Thursday, August 19, 2010

A Wee Unemployment Problem

There's no perfect correspondence between the weekly new jobless number, which measures the gross number of new people receiving claims, and the monthly jobs number, which measures net jobs. That is, in theory you could have a large amount of churning in the job market while still having net positive jobs but it isn't very likely. Presumably the next jobs number will be less than good, and I'll be shocked if the unemployment number doesn't shoot up.

Happy campaign season! Thanks for the insurance policy Larry.