Monthly Non Farm Payrolls Don't Tell The Whole Story

The Non Farm Payrolls (Jobs Report) has stayed strong, surprising the stock market and economists. However, this can be misleading as it does not tell us the underbelly of what kind of jobs are being created.

Part-time jobs have sharply increased while full-time jobs have decreased. In addition, the government has been a massive net job creator versus the private sector.

This makes the data more complex and certainly not as rosy as many economists would have you believe.