The Bureau of Labor Statistics announcement raises questions regarding the actual strength of the job market, the success of the Trump-initiated tax cuts and how exactly these numbers are calculated.
It's been reported that it's hard for them to secure new jobs. If the job market was at record highs either the companies would keep their older workers or these people would easily find new jobs due to the pent-up demand.A new job is created when a position is moved from New York City to Raleigh, North Carolina. The NYC person who is earning a large salary loses her job and the young person in North Carolina gets a fraction of the what the other person previously earned.
If the government relies upon household surveys, it seems antiquated and completely unreliable. How often do you answer your landline? Do you even have a landline? When was the last time you took the time to answer a phone survey by the government? The survey system seems ripe for messaging the numbers to make things look good.Many people elect to retire earlier than they would like because of lack of appropriate opportunities available to them.
The Labor Department uses something called a Birth/Death Model. They assume the amount of jobs created when a new company commences business and the number of jobs lost when a company closes. These is not based on actual data, but on black-box assumptions. This seems highly questionable and ripe for playing with the models to make things look better than they are.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here’s why millions of millennials are not homeownersHomeownership among millenials is lower than their parents and grandparents. Here's why
Read more »
Here’s why the bond market isn’t as worried about a recession as you thinkSome investors say the recent decline in Treasury yields may not be indicative of a looming economic slowdown.
Read more »
HuffPost is now a part of Oath
Read more »
Box Office: 'Angel Has Fallen' Rising to $20M U.S. DebutElsewhere, 'Hobbs & Shaw' is celebrating crossing the $500 million mark at the global box office as it opens to huge numbers in China.
Read more »