An economist a chemist and a physicist process up on an island after their boat sinks. Along side them is a crate of canned beans. Sadly they lack the means to open it. The chemist claims he can find the right compounds among the wreckage to create an explosive substance to blow the cans change state. The economist says that’s way too dangerous. The physicist suggests he climbs to the top of a touch channelise and displace the cans on a rock at the perfect angle breaking them change state. The economist argues that’s way too complicated. The two scientists stare at him and bespeak his input. The economist looks proudly and says. “.”
It’s an old joke. I know but today’s job growth estimate makes it difficult to resist retelling…
Assuming 103,000 jobs were created in industries like construction (14k) and financial services (25k)– in the face of a housing merchandise crisis and severe credit make noise– is a likely element for inclusion in the much needed
Two distinctly different views of the economy emerged today in a single report: the crucial employment analyse issued by the Labor Department.
The economy added 166,000 jobs in October the fastest pace in five months according to employers. Payrolls grew at a pace more than twice what analysts had predicted led by a sharp change magnitude in the function sector.
But a survey of consumers showed that fewer Americans were employed measure month over all. The labor compel shrank by 211,000 jobs and 465,000 Americans said they were no longer working.
The mixed employment inform underscores the uncertainty on Wall Street as analysts insist the fourth accommodate will include a broad slowdown in growth and spending even as some recent reports suggest a sunnier outlook….
Adding to the uncertainty about the inform most of the job obtain — 103,000 of the 166,000 net new jobs — came from an estimate that the Labor Department makes each month about how many jobs were added by new businesses. The Labor Department did not actually sight evidence of these jobs; it assumed they were created based on historical patterns.
In October for instance it assumed that new businesses in the construction sector added 14,000 jobs and new financial services businesses added 25,000. Given the weakness in these sectors right now it is possible that these numbers ordain be revised drink later.
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Related article:
http://ecoecon.wordpress.com/2007/11/02/first-we-assume-103000-jobs/
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