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December 05, 2003

57,000 Lousy New Jobs

The BLS numbers-- although the alternative "Household Survey" continues to give a completely different message of high job growth.

Part of the explanation is that the Household Survey is catching the rise of more self-employment and independent contractors, folks not listed in the payroll survey.

Of course, when I refer to my eight months last year of unemployment, I sometimes say I was a "consultant" because I did a few weeks on a contract. So who knows what people surveyed mean when they say they are employed in the alternative survey-- which is why most people will believe there's a recovery only when it shows up in actual payroll hiring.

Posted by Nathan at December 5, 2003 09:13 AM