Two employment series
How the government and media mislead us
Did you love this morning’s jobs report? 216 thousand new jobs - that’s great! A quarter of them in government, but we’ll take it!
But wait a minute. There are actually 683 thousand fewer people working… Fewer people, working more jobs… Uh oh…
https://www.bls.gov/news.release/empsit.htm
Here’s an illustration of the problem.
The Bureau of Labor Statistics does two surveys. The establishment survey talks to businesses and asks them how many jobs they have. That curve is shown in red above.
The blue curve comes from the household survey, where they talk with ordinary people and ask them if they are working. I aligned the two curves to have index value = 100 for December 2020, the last full month of the Trump administration.
Jobs have grown steadily. Jobholders, not so much. I wonder why…
Well the gov supported illegal hordes sure aren't in the job market.
It looks like both curves are growing, though the blue curve is growing more slowly. Am I reading that right?
Also, I don't see the 683 thousand fewer people working. Where is that number? Fewer than 2020? Fewer than what?