Mainstream Finally Notices Jobs Numbers

Posted August 26th, 2004 by AlphaPatriot and filed in Economics and the Economy
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USA Today finally writes about the jobs numbers that you’re not hearing about:

Most economic observers were too busy fretting over the lackluster gain of 32,000 payroll jobs in July to take notice of the other positive indicators, let alone the quiet little study that acknowledges payrolls have a problem.

The study describes how job-changing can inflate the payroll survey’s numbers artificially. When worker turnover is brisk, as in the late 1990s, millions of workers are counted twice when they switch jobs. About 3.9 million people changed employers during a typical month during the 1990s, but only 3.1 million do so now….

There’s an alternative. The U.S. Labor Department’s household survey, which is used to calculate the unemployment rate, is not subject to the job-changing effect. It surveys 60,000 households and counts self-employed consultants, real estate agents, farmers and other non-traditional workers who aren’t on old-style payrolls.

Yet because the household survey shows 2 million more working Americans under President Bush than ever before, it has been attacked for partisan reasons.

This should be the story being told:

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