Jobs: Last Three Months Saw Downward Revisions of 57k on Average

The analysis below covers the Employment picture released on the first Friday of every month. While most of the attention goes to the Headline Report, it can be helpful to look at the details, revisions, and other reports to get a better gauge of what is really going on.

Current Trends

The jobs report was a modest gain of 177k but it way outpaced estimates which was enough to juice the stock market, leading to the 9th positive gain in a row for the S&P.

The Household report, which had been underperforming the headline number for some time, came in higher. This is the second month in a row, but only because last month Headline report was revised down.