I stopped reporting the monthly numbers because they are extremely noisy and subject to huge misinterpretation because of the way the BLS calculates the numbers.

The quarterly report is six months old and more accurate.

By Location

A Bloomberg Chart shows Trouble in the East and Midwest.

Firm Size

In the third quarter of 2017, firms with 1-49 employees had a net employment decrease of 176,000.
Firms with 50-249 employees had a net employment decrease of 57,000. Firms with 250 or more employees had a net employment increase of 36,000. Of the 1.3 million net jobs created over the last four quarters, firms with 1-49 employees contributed 32.0 percent of net job growth, firms with 50-249 employees contributed 26.0 percent, and firms with 250 or more employees contributed 42.0 percent.

The first two bullet points show that small and medium sized businesses are struggling.

And the previous chart shows huge regional differences.

Labor strength is not what it seems.

This article has been republished with permission from Mish Talk.