Well, howdy there, Internet people, it's spell again.

So today, we're going to talk about Trump's job data.

There's been a lot of confusion and a lot of questions about the jobs information that has recently come out.

First, some of the confusion is based on people confusing an ADP estimate, that's a payroll

company, with the Bureau of Labor and Statistics jobs report.

ADP showed negative 33,000 private sector jobs.

The jobs report showed a 147,000 job gain.

That beat the expectations of 117,000.

That's a pretty big swing.

But when you check under the hood, things start to make more sense,

but also get even murkier in some ways.

Because it would seem that Trump's policies are having the exact opposite effect as what was promised. Since the ADP estimate is focused on private sector jobs,

let's remove the government job growth from the Bureau of Labor and Statistics. Since Trump is supposed

to be shrinking the government and doging his way around, it can't be that many, right? Even

if it does include state and local governments. Half. It's half. 73,000. That leaves 74,000 remaining.

What about health care and education?

Two fields being hammered by Trump's agenda as he withholds Congressional approved funding.

And now his new budget is going to make it worse. That's 51,000 jobs. That leaves 23,000

jobs gained. But it's actually worse than that. See, the 147,000 number is a net jobs gain

across all sectors of the economy.

You add all the sectors that had gains, then subtract any sectors that lost jobs.

A number of sectors lost jobs last month.

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