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School's Out for Summer, and the Timing Messed With May's Jobs Data
Statistical quirks explain some of the big swings in U.S. employment numbers.
Prising: Workforce Participation Rate at Historical Low
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Remember how unexpectedly bad the May U.S. employment report was? With Friday's release of June employment data, it turns out the weakness was a fluke after all—and it looks like a big part of it was due to seasonal quirks related to the timing of the end of the school year.
Every month, the Bureau of Labor Statistics compiles and publishes data tracking how many people are moving between employment and unemployment and, more broadly, how many people are entering and leaving the labor force. The agency also adjusts for seasonal factors to smooth the data—school-year timing being one of them.