David Rosenberg: Adjusting U.S. jobs data for World Cup effect is key

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Artem Shendetskii

02.07.2026

David Rosenberg: Adjusting U.S. jobs data for World Cup effect is key — Adjusting U.S. jobs data for accuracy

David Rosenberg, founder & president at Rosenberg Research & Associates Inc., recommends closely analyzing today’s U.S. employment report by removing leisure and hospitality figures to account for the World Cup effect in the payroll numbers.

Rosenberg also stresses the importance of understanding the split between full-time and part-time positions in the household survey to identify the most critical data point.

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Rosenberg has recently questioned the impact of modest payroll growth, highlighting a 0.3% gain in nonfarm payrolls alongside a 0.3% decline in the household survey in prior analysis. He has also discussed Federal Reserve policy under new leadership and weighed in on current market valuations in a separate note on the Fed's outlook. His latest comments continue a focus on dissecting labor data and monetary policy implications.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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