Monday, July 05, 2004

Only 465,000 New Jobs in Past 5 Months

According to the Treasury Secretary anyway. You see, for a long time the Household Survey was showing much greater job creation than the Establishment (employer) survey. Conservatarains spent months telling us that it was the "right" survey, even though the Establishment Survey is the standard benchmark for a variety of reasons. Then they flipped, and Establishment Survey started showing greater employment growth than the Household Survey. Suddenly, the latter was forgotten.

Well, now they Angry Bear tells us that John Snow is once again back to pimping the Household Survey data.

Well, fine, but <100,000 per month average growth is pretty damn crappy. So much for the booming economy they keep telling us about...