Interesting. If true, the vast majority of newly employeed folks are self-employed.
Job Stats for Dummies
Jerry Bowyer, NRO Original Article
It’s understandable if you’re a member of the general public and you’re perplexed about the dozen or so stats that appear in the monthly employment statements. But it’s not if you write business headlines for the New York Times. Today the Times’s web edition ran a headline that said, “U.S. Economy Added Only 78,000 Jobs in May.” Of course, this statement is false. Total nonfarm employment, which is part of the Labor Department’s payroll survey, is what increased by only 78,000. This is not a measure of what the “U.S. Economy” is doing, nor does it purport to be.
Jerry Bowyer, NRO Original Article
It’s understandable if you’re a member of the general public and you’re perplexed about the dozen or so stats that appear in the monthly employment statements. But it’s not if you write business headlines for the New York Times. Today the Times’s web edition ran a headline that said, “U.S. Economy Added Only 78,000 Jobs in May.” Of course, this statement is false. Total nonfarm employment, which is part of the Labor Department’s payroll survey, is what increased by only 78,000. This is not a measure of what the “U.S. Economy” is doing, nor does it purport to be.
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