A third of million new jobs were created in January according to the Bureau of Labor Statistic’s household survey. This exceeds the quarter million job gain shown by the employer survey. Historically, these two surveys confirm one another except when unusual growth is seen. The household survey had been diverging from the employer survey by larger and larger numbers over the past year.
This divergence probably indicates exceptional growth in small business activity and among new entrepreneurs not adequately represented in the employer survey. This could be tied to the sharp growth in manufacturing jobs with 50,000 new workers added last month as reported by employers.