[Marxism] » On Those Questionable Jobs Numbers….Again!

Louis Proyect lnp3 at panix.com
Mon Dec 9 06:04:41 MST 2019


By Jack Rasmus.

It’s important that readers understand that the monthly jobs numbers 
don’t represent actual jobs. They are a statistic. That means the raw 
actual number of jobs are not what’s reported. It’s a statistical 
manipulation–based on a series of complex assumptions and even more 
complex mathematical formula adjustments of the raw jobs data–that gets 
reported monthly as the job numbers.

Moreover, the monthly numbers reflect jobs, not actual workers getting 
new employment. There may be workers adding second and third jobs, 
reflecting the jobs increase, but not actual new employment increase. 
The US Labor Dept. claims it captures added jobs by those already 
employed, but the numbers suggest its methodology may not be that 
accurate. The US labor markets have radically changed since the late 
1990s and the BLS methods may no longer be accurate for picking up 2nd 
and 3rd jobs. The changes also suggest that maybe the government’s 
statistical adjustments for seasonality are not that accurate any more.


full: 
https://zcomm.org/znetarticle/on-those-questionable-jobs-numbers-again/



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