Record Gap Between U.S. Employment Surveys
The latest month and year, the divergence has been record large, with the payroll survey coming with far stronger numbers than the household survey. Here's how they changed the latest month:
Payroll: +204,000 jobs
Household: -735,000 jobs
And the latest year:
Payroll: +2.33 million jobs
Household: +0.24 million jobs
Part of the most recent monthly divergence could be related to furloughed federal workers during the partial shutdown counting as employed in the payroll survey but not in the household survey, but even adjusting for that the household survey still suggests a much weaker labor market than the payroll survey.