Audio here<\/a>, at 2:30 approximately. He also says private NFP gain is down to +56K, while private ex-health care and social services (all essentially government), was only up +12K. Here\u2019s the picture I get looking at current vintage\/latest release:<\/p>\n Figure 1:<\/strong> Change in nonfarm payroll employment (blue), in private NFP (tan), in private NFP ex-health care and social services employment (green), all in 000\u2019s, s.a. Source: BLS via FRED and authors calculations.<\/em><\/p>\n I couldn\u2019t figure out how Kudlow got his numbers. Then I realized he\u2019d incorporated the downward revisions from previous months, so he should\u2019ve said \u201con net\u201d or something like that. He also mentioned the ISM and construction numbers (the same that Peter Schiff had mentioned<\/a>). As I noted, these were not statistically significant changes. In any case, I\u2019ve added Mr. Kudlow to the \u201crecession camp\u201d list<\/a>.<\/p>\n More stuff from Kudlow: weird ways to calculate job gains<\/a>, no recession in Dec. 2007<\/a>, etc.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n <\/p>\n![\"\"](\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/kudlowempl1.png\")
<\/a><\/p>\n