Economist Points Out A Curious Number In The Jobs Report

Economist and PeakProsperity Co-Founder Dr. Chris Martenson told Benzinga about a concerning number in Friday’s jobs report.

There was no change in mining activity in the employment data which “includes the oil patch,” according to Martenson.

“That was a big surprise because I’ve added up over 22,000 jobs that were lost...and they counted zero loss.” Martenson expected “a future revision downward on that number," and felt "there must be some lag in how they’re collecting that data.”

Further driving the point home, Martenson said that the job losses “were not just announced cuts that were going to happen later,” rather, “these cuts have happened...a lot of people have lost their jobs in that space.”

Kevin Riley and Brianna Valleskey contributed to this report.