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June jobs report: -225k (+100k ex-Census) 9.5% unemployment

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June nonfarm payrolls declined by (- 125,000).  Of that, (- 225,000)   was laid off census workers, meaning that hiring for the month of   June totalled +100,000 workers.  This is the sixth straight   month of payroll growth ex-census.  Since employment bottomed at the   end of last year, 593,000 private sector jobs have been added

The above number is the "establishment survey" which is obtained by   calling businesses, and is subject to the controversial "birth/death"   adjustment.  The separate "household survey" which is obtained by   calling households -- which does NOT included any birth/death   adjustment (and is a much more noisy number) showed a -gain of   191,000 jobs- loss of 301,000 jobs.  This year, the household survey shows a gain of 1,300,000 jobs in the economy.

The headline unemployment rate, which is also obtained by the   household survey, declined to 9.5%  The more   inclusive U6 rte, which includes the underemployed, also fell to 16.5%.

More details below the fold.


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