Barron's picks up "The Real Job Growth Numbers"

Wednesday, December 28, 2005 | 05:45 AM
in Media



Barron's ran with last week's How Strong is this Jobs Recovery? in the online edition:

LATELY, THE WHITE HOUSE and Treasury Secretary John Snow have been trumpeting the fact that the economy has created 4.4 million new jobs since May 2003.

Inquiring minds want to know: How legit is that number? How was it derived? How does this job-creation data compare to prior cyclical recoveries?

First question: How did the White House come up with that 4.4 million new-jobs number? Is it accurate?

Measured trough to peak, there were actually almost 4.5 million new jobs created. In May 2003, there were 129.8 million people employed, according to the Bureau of Labor Statistics (BLS). As of November 2005, there were 134.3 million. That reflects 4.5 million new jobs. So the "over 4.4 million jobs created" statement is numerically accurate.

So if that number is mathematically accurate, what's the problem? That's our second question:

I like having a 3rd party publish sometihng, so that years later I can point back to an objective archive of it.


The Real Job Growth Numbers
INVESTORS' SOAPBOX AM  |  Online Exclusive
TUESDAY, DECEMBER 27, 2005 11:58 a.m. EST

Wednesday, December 28, 2005 | 05:45 AM | Permalink | Comments (1) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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My guess would be that the U.S. population has grown at a certain percentage, so the increase in the number of jobs versus the increase in the population number is what needs to be looked at.

Posted by: robert mal | Dec 28, 2005 2:14:48 PM

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