NewsFlash: November 2, 2007
Job growth’s tale of two surveys
The nation’s payrolls grew by a robust 166,000 jobs in October, according to the Bureau of Labor Statistics’ payroll survey, a solid growth rate consistent with strong GDP growth over the past two quarters. However, the BLS Household Survey is telling quite a different story, showing that the share of working age people with jobs has fallen consistently this year, especially among African American men and young people, a finding that’s consistent with widespread negative sentiments about the current economy. EPI senior economist Jared Bernstein unravels some of the mystery found in the two-faced job reports in today’s Jobs Picture.
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