Over 600,000 jobs created in July alone!
A18:
According to the Labor Department household survey, over 600,000 jobs were added to the economy in July alone.
That's why unemployment fell a tenth of a percentage point to 5.5%. The 32,000 jobs figure is a load of crap because it's based on the business survey, which is historically unreliable, and won't even be seasonally adjusted until after the election.
Payroll (business) survey data is always preliminary. Past examples now show initial estimates to be off by millions of jobs. Initial estimates of job losses in 1992 were revised in 1993, 1994, and 1995 and now show net job creation. It also fails to take into account self-employment, which is surging.
How did they think employment went down a tenth of a percent with only 32,000 jobs created? There are well over 200 million people in this country!
This survey is bad news for Bush as far as the press goes, but it could very well be good news in the end. I don't know that people are going to follow the media's lead on the economy. People know about the economy because they're in it, and they know how well they're doing, and whether or not they're employed.
So 600,000 jobs created...in other words, about 600,000 potential Bush votes. I know some of you want to pretend this economy is a disaster, but the facts don't.
○∙◄☻¥tπ[╪AV┼cVê└:
The Household survey is
1. Much less reliable than the Establishment survey - Economists don't look at it
2. It shows many fewer jobs created so far this year than the Establishment survey
??????????:
Philip,
I agree with you. However, I warn you that liberals on here will dodge the issue and attack you with loaded garbage because they love to talk down the economy here.
○∙◄☻¥tπ[╪AV┼cVê└:
You can't just pick whichever numbers you like best each month.
The more reliable Establishmnt number shows 1,267,000 jobs this year.
The less reliable Household number shows 1,179,000 jobs this year.
Defarge:
Unemployement figures account for only people who have been out of work for a certain period of time. Once people have been unemployed for a period longer than that amount of time, they are no longer counted as unemployed.
That is why unemployment fell this month
Self-employment is "surging?" I doubt it. With the vast productivity increases, self-employed workers have been unable to compete with larger coorportations, thus resulting in their elimination. You cannot simply look at job numbers you don't like, and then say "self-employment is surging!"
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