The difference between nonfarm payrolls and the household survey was a massive 564,000 jobs in June. This comes as Thursday’s job report showed +57,000 non-farm payrolls were added last month. At the same time, -507,000 Americans lost their job, the 3rd-largest drop since January 2024, according to the household survey.

Year-to-date, total employment in the household survey has declined -1.7 million, to 162.26 million, the lowest since December 2024.

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