Unemployment and job creation numbers are, apparently, better than previously reported
Job growth may be stronger than it appears.Another healthy drop in unemployment claims reported last week is the latest clue that job gains might be more robust than the Labor Department’s monthly reports show.
Some economists say jobless claims and other recent data show that employers likely added 200,000 to 300,000 jobs a month this year, rather than the 128,000 average reported by the Bureau of Labor Statistics (BLS).
The reason for the possible disparity: The government tends to underestimate both job gains in a recovery and job losses in a recession, the economists say. That helps explain why the nation’s unemployment rate has fallen more sharply than the modest payroll increases suggest. The jobless rate was 8.9% last month, down from 9.8% in November.
“The data suggest there’s been more improvement already in the employment numbers,” says Jim O’Sullivan, chief economist of MF Global.
Unemployment down an entire point in four months? All this despite the fact that Republicans haven’t done a damn thing relating to jobs and improving the nation’s unemployment rate? Seems like Democrats are doing better than many are giving them credit for, eh?
Helps explain this tidy little trend, too:
Adding … if you want to see a complete meltdown by the “True Liberals” at Daily Kos, check out the comments on the Daily Kos Rec Listed version of this blog (HERE). Apparently, this is very bad news for everyone.
I’m just sayin’…
