I noticed in comments on Spencer England’s post for this month’s Employment Situation that the 1.2 million jobs lost number was put forth as fact and a reason to dismiss BLS numbers outright. Links to a more careful and complete look at the numbers follows:
Brad Plummer at the WaPo discusses two issues with employment and seasonal factors: Wait, the U.S. economy actually lost 1.2 million jobs in July?
Bill McBride at Calculated Risk adds his own analysis and charts in this post…Payroll Employment and Seasonal Factors
Take the time to note limits as well as information gained in this very general number used for many different reasons….there is also a lot of data available to see trends within the aggregated number.