Battle Of The Labor Surveys (Why jobless rate will decline by a percentage point or more in 2010)
Despite the fact that headline "payroll" job losses are significantly smaller than earlier this year, the unemployment rate spiked to 10.2% in October. This is the highest since the aftermath of the brutal 1981-1982 recession, when the jobless rate peaked at 10.8%. Many are arguing that the unemployment rate is the better indicator and that the economy is still in a great deal of trouble. So it's time once again to look at how jobs data are calculated. The Labor Department uses two completely different surveys: the payroll (or "establishment") survey and the household survey. ..... ..... Instead, we notice...
Original Article: Forum: News/Activism
Tags: Aftermath, Economy, Household Survey, Job Losses, Jobless Rate, Jobs, Labor Department, Labor Surveys, Payroll, Percentage Point, Recession, Unemployment Rate