“How is it that 370,000 people lose their jobs every WEEK but only 100,000 or so new jobs are created every MONTH and somehow the unemployment rate goes down?”
As an example: Even though 370,000 people lost their jobs during the last week, or any week, but during those same weeks, 385,000 people may have been been hired.
Its the difference between those hired and those fired during the full month that determines the monthly unemployment numbers.
RE: How is it that 370,000 people lose their jobs every WEEK but only 100,000 or so new jobs are created every MONTH and somehow the unemployment rate goes down?”
well, for one, the official unemployment rate DOES NOT INCLUDE those people who have dropped out of the workforce.
If the survey taker asks the question -— “Are you actively looking for a job?” and your answer is “no”, they don’t count you.
Or may not. Where does THAT number come from? Conjecture we much!