On Friday, we noted that the difference between terrible numbers and Friday’s merely awful numbers were the government census hiring.
The Nonfarm payroll employment decline in April was -539,000. Private-sector employment fell by 611,000; the differential between NFP and private sector employment was primarily new hires for the 2010 Census;
Since we all can’t work for the Census Bureau, let’s look at the following charts (from Ron Griess of The Chart Store). These show the real economy — private sector hiring without the government stimulus.
Note the annual changes (middle chart, Private Payroll). It is approaching 6 million job losses per year. This is uncharted territory, an annual rate of change unprecedented for as long as the data has been tracked, going back to 1939:
Total Changes in Private Payrolls
Monthly Changes Private Payrolls
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.