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A Closer Look At Payroll, Jobless Claims Data

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Jack Lavery is the former Global Chief Economist at Merrill Lynch and author of The Lavery Insight economic newsletter offered exclusively on Minyanville. For a free 14 day trial click here.Non-Farm Payrolls Drop More Than ExpectedNon-farm payrolls fell 467 000 in June worse than my forecast of a decline of 420 000 and considerably worse than market/consensus expectations of 365 000.  Expectations for June likely worsened after yesterday’s ADP National Employment Report. With today’s release of the June data came revisions to the April and May employment numbers. May’s payroll employment decline had been estimated initially by the Bureau ...

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