Saturday, February 04, 2012

Rosy jobs report a ruse

Rosy jobs report a ruse - NYPOST.com
A loss of jobs that isn’t as bad as expected turns into a job gain.
Does that mean there really are 243,000 new jobs out there?
Absolutely not.
Let’s say there are rumors in your company that 300 people are going to be laid off.
Instead, management decides to fire just 200.
Two hundred people, of course, have lost their jobs.
But, adjusting it for expectations, 100 people didn’t get fired.
Using this analogy, the government would say that, on an expectation-adjusted basis, 100 jobs were created.

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