Employment Report Shows 166,000 Gain in Jobs....BUT

ARE YOU READY?.....But a separate survey showed that fewer Americans were employed over all last month.

http://www.nytimes.com/2007/11/02/business/02cnd-econ.html?hp

but why should we expect truth in this area while they lie in every other area? :shrug: :shrug:

If you're unemployed for over a certain amount of time (I think it's 12 months), you basically drop off the face of the earth according to DoL statistics.

So, if you have been unemployed for 13 months, you no longer count as being unemployed. You're just out of the labor force.

for people just going to work would require 200,000 new jobs a month. 166,000 just doesn't cut it. Part of the myth of a jobless recovery.

how they form the numbers to always make it look good. I've been looking for a job for 2 months - anybody here hiring? Will work for......money??

the monthly jobs report. There's almost always a discrepancy.

The former is just a survey. It catches the self-employed, which would otherwise be less visible. It's also more attuned to what happens with small businesses between months when employer reports are due.

The jobs report has to make estimates because not every employer has to file every month. That's the reason for adjusting the monthly job reports retroactively.

In the last 4-5 years, the household survey's pretty much always said there were more jobs created than the job report; this is usually taken as evidence that the household survey is wrong. Now that the household survey shows there were fewer jobs created (if I can refer to "negative job creation" that way), I assume it'll suddenly be taken as the gold standard. Unless, of course, it shows more jobs created next month.