Tuesday, October 12, 2004
Missing Jobs Found
Yesterday the WSJ reported that the old way of measuring jobs is skewed, and that the current economy, which grows even more dynamic and flexible, shows a healthy job market with unemployment at 5.4%. It turns out that self-employment and partnership formation is the unreported fuel for growth.
In fact, adding the "household survey" to the "establishment survey" (which is the typically reported payroll data) increases the number of jobs created during the current expansion by two million. So much for the woes of outsourcing...
¶ 7:53 AM
