Friday, February 01, 2008

More On Jobs


With today's report, the Labor Department revised the payroll numbers after reviewing more complete tax data not available earlier from state unemployment insurance programs and making adjustments to its estimates of seasonal hiring patterns.

The revision subtracted 376,000 jobs from the previous estimate for the year ended December 2007, bringing total job growth for the period to 1.137 million.

That's a monthly average of 94,750 for the period, below the 140,000 or so necessary to keep up with the growth in the working age population.