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Friday, November 6, 2009

Job Losses... Again, Worse than Reported

Forget about the 190,000 job loss seen in the establishment survey, the household survey lost a whopping 558,000 jobs in October. The difference per The Big Picture:

As we have discussed all too many times, the Household survey measures:
None of which are counted in the Establishment (Non-Farm Payroll) Survey.

Yes, a jump of almost 4% in the number unemployed in one month after employment had already reach 9.8%... frightening.

Source: BLS