‘we might need a jobs recount’

Time: The employment numbers for November were far lower than people were hoping for. But here’s the problem: The employment picture might not be as disappointing as the number the Department of Labor reported. Why’s that? The Labor Department failed to count just over 350,000 jobs in its final tally. Include those jobs into the mix, and….

…..the economy actually added nearly 400,000 jobs in the month of November……

…..In reality, the retail sector added just over 300,000 new hires in the month of November. But the Labor Department didn’t count those hires. That’s because the Labor Department’s final number of employment is seasonally adjusted. And since the retail sector disproportionately adds more workers this time of the year than the other 10 months, the Labor Department adjusts down the sector’s employment numbers in November and December. So retail employment gets over counted in January and February when hiring is slow, and undercounted in November and December….

The result: In the Labor Department’s final count, 350,000 retail jobs got excluded.

And that may make sense. Many of those jobs are seasonal and temporary. But if the retail sector continues to do well this holiday season, some stores may keep a good number of those employees. If so, November’s disappointing job report might be just be setting the economy up for a surprisingly strong employment number for January.

Full piece here

Thank you Brezzydee for the great link 😉

6 Responses to “‘we might need a jobs recount’”

  1. 1 Kelly
    December 4, 2010 at 7:58 pm

    Well dang 350,000 new jobs left out? WTF….mmm I had a feeling something was fishy. I am happy for all the new workers though. Good for them.

  2. December 4, 2010 at 8:54 pm

    You are welcome Chipsticks 🙂 I wasn’t sure I could post other links, so thank you. I knew something looked funny about those numbers. When even the experts was shocked. So I went scouting for an answer LOL. This article had more jobs posted than I expected but at least I feel better that I wasn’t the only one thinking something was wrong.

    Most of the public don’t realize that the unemployment numbers per month is only a small survey of a few hundred businesses around the country. That is why the numbers are always revised later when the real numbers come in.

    By the way I love your site. I’m hooked now LOL

  3. 3 globalcitizenlinda
    December 5, 2010 at 4:34 am

    something was surely strange I heard this. why wasn’t the explanation provided when the announcement was made or was this ignored by the media?

  4. 4 TrumpDog
    December 5, 2010 at 11:05 am

    This is positive news. I admit, I was a little down when the numbers came out Friday. But this makes me feel a little better.
    I, too, wonder why this explanation was left out of the initial news reports. Has the media explained?

  5. 5 Hachikō
    December 5, 2010 at 11:55 am

    Just stopped by to tell you guys about the NatGeo documentary, ‘The President’s Photographer’ that I watched last night (available for streaming on Netflix). I totally recommend you watch it. Great documentary and a great behind the scenes, inside the WH look at what went on during the fight for HCR.

    • 6 globalcitizenlinda
      December 5, 2010 at 3:28 pm

      thanks for the heads up, I have been looking for this since it aired on PBS and I was unable to see it

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