The Bureau of Labor Statistics (BLS) Home Survey for July 2022, seasonally adjusted, measured an increase of 179,000 jobs in July, NOT the 528,000 in the BLS Payroll Survey of employers.
Further, the Household Survey shows that increase is all-in part-time jobs of various sorts.
In the Home Survey, regular full-time employment (seasonally adjusted) actually dropped again, dropping another 17,000 to 132,577,000.
The Federal Reserve Board may use the Payroll Survey figures as another excuse to raise interest rates, but it is not because they are real. Any more than inflation was “transitory.”
