Job Losses... Again, Worse than Reported
Posted on Friday, November 6, 2009
Forget about the 190,000 job loss seen in the establishment survey, the household survey lost a whopping 558,000 jobs in October. The difference per The Big Picture:
As we have discussed all too many times, the Household survey measures:None of which are counted in the Establishment (Non-Farm Payroll) Survey.
- Agriculture and related employment
- Uncompensated Workers
- Unpaid Family Employees
- Part Time Workers
- Workers absent without pay from their jobs
- Self employed, Work-at-home Contractors
Yes, a jump of almost 4% in the number unemployed in one month after employment had already reach 9.8%... frightening.
Source: BLS
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Source: http://econompicdata.blogspot.com/2009/11/job-losses-again-worse-than-reported.html
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