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To: georgia2006
The monthly jobs figures are based on models and have huge estimated components to them. Whenever they do actual surveys and try of count the millions of new jobs, they have trouble finding them. That was PCR's point. That the monthly "jobs created" don't exist. When you do actual surveys, you get more sobering data which seems to be more in line with peoples' self-reported experiences.

The monthly gov't jobs reports along with inflation figures are notorious for being highly "massaged."
18 posted on 04/23/2006 3:10:49 PM PDT by Dialup Llama
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To: Dialup Llama
The monthly gov't jobs reports along with inflation figures are notorious for being highly "massaged."

Then I'm sure you have an alternative and reliable source to show us what our real job growth is, given our $12 trillion economy is growing between 3-4% a year (that is, of course, unless you believe the GDP numbers are also massaged LOL) and can also show us what the real rate of inflation is and why the bond market is missing your higher figures. Then you could also explain how it is our real per-captia consumption has more than doubled in the past 30 years while our household net worth has more than doubled, since just 1994, if jobs, income and GDP are not growing, and we are losing all our purchasing power to inflation.

33 posted on 04/23/2006 3:35:12 PM PDT by Mase
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To: Dialup Llama
The monthly jobs figures are based on models and have huge estimated components to them. Whenever they do actual surveys and try of count the millions of new jobs, they have trouble finding them.

As far as I remember, the data is based on survey, as they do survey every month (like Current Population Surveys, etc.) As it is a survey, not census, they don't try to "find all people" in gathering the data. Based on sampling design, etc., they estimate the numbers for national figure, using some statistical model. But this is how survey works. I believe they have been doing the same thing since early 1960s quite consistently. This is a quote from BLS website:

Each month the Current Employment Statistics (CES) program surveys about 160,000 businesses and government agencies, representing approximately 400,000 individual worksites, in order to provide detailed industry data on employment, hours, and earnings of workers on nonfarm payrolls.

48 posted on 04/23/2006 4:08:06 PM PDT by paudio
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