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The complex picture presented by the surveys of the Bureau of Labor Statistics on unemployment and making sense of what they mean
01/07/2012
The Department of Labor's Bureau of Labor Statistics has two surveys the payroll survey of 400,000 establishements is the emplyer survey and gives the number of jobs added in nonfarm payrolls. The other survey is the Household survey which is based on 600,000 households and gives the unemployment rate. The number of jobs added in the employer survey of payrolls is revised sometimes by hundreds of thousands. The unemployment rate is based on the number of people looking for jobs. If people are discouraged and stop looking the unemployment rate may look better, and conversely if people feel encouraged and start looking the rate can be worse. The unemployment rate can also look better even when jobs are coming in at less than the 125,000 jobs a month that account for population growth to keep the unemployment rate stable.
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Job Numbers Mask Complex Picture
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The Hiring Hare Will Soon Morph Into a Tortoise
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Jobs Data Show Sustained Growth
Wall Street Journal 02.03.2012
Depsite the latest jobs report, we’re still losing the unemployment war - The Washington Post
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Wonkbook: Don’t read too much into the May jobs numbers - The Washington Post
Washington Post 06.04.2012
Number of the Week: Did U.S. Actually Shed 195,000 Jobs in July?
Wall Street Journal 08.04.2012
The Noise on Jobs Keeps Fed Guessing
Wall Street Journal 08.03.2012
Wait, the U.S. economy actually lost 1.2 million jobs in July? | Wonkblog
Washington Post 08.06.2012
Jack Welch: ‘I Wasn’t Kidding’
Wall Street Journal 10.05.2012
Jack Welch: I Was Right About That Strange Jobs Report
Wall Street Journal 10.10.2012
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