Mish/ Mike Shedlock – Nonfarm Payrolls +288,000, Unemployment Rate Drops To 6.3%; Household Survey Employment -73,000, Labor Force -806,000 – 2 May 2014

Initial Reaction

This month sported another amazing difference between the household survey and the payroll survey. The difference is so vast that looking at the numbers in isolation, one might think the results were from two different countries.

The headline number from the payroll survey beat expectations by a mile with 288,000 jobs, but beneath the surface, the household survey shows employment declined by 73,000.

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