Why several hundred thousand jobs are about to “vaporize”

Why several hundred thousand jobs are about to “vaporize”. Don’t panic – the BLS has a statistical model that attempts to account for the birth and death of businesses in its job numbers. Every January, it revises the number, usually to the downside: avg of last 5 years is -335K. If the gubbermint’s job numbers last year seemed at bit phoney to you, this model is part of the reason why.

This post was last modified on January 26, 2021

Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

View Comments (3)

  • The newest prediction for unemployment is supposed to rise back up to around 9.2% by the end of 2012--which is basically around 20% underemployeed. I guess Obuttboy thinks that will help his campaign.

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