OPINION: November jobs report was not a blowout, it was a big disappointment
The double-counting can occur for different reasons, such as people holding multiple jobs. Many people are getting second jobs to deal with inflation, but the household survey counts those people as employed -- just like when they had one job. However, the establishment survey counts each additional job that a person gets as another payroll.
The economy has been hemorrhaging full-time jobs, losing almost half a million since May. That equates to an average loss of over 2,600 full-time jobs per day.are counted in the household survey, but not the establishment survey. But inflation has caused many small businesses to close over the last two years, and there has been a trend for the self-employed to go work for large corporations.
Meanwhile, the economy has been hemorrhaging full-time jobs, losing almost half a million since May. That equates to an average loss of over 2,600 full-time jobs. This is particularly ominous because businesses’ preferences often shift from full-time to part-time hiring before transitioning to layoffs in times of uncertainty.The manufacturing sector offers further evidence of this tumult.
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.
Yes, new development condo sales dropped around Thanksgiving | amNewYorkNew development condo sales declined 21% the week of Thanksgiving. Holidays almost always bring a lull in activity because agents lose days for transacting. This is normal.
Read more »
Jon Batiste Performs at First State Dinner at White HouseThe innovative jazz musician’s performance began with a joyful, light-hearted rendition of “The Star Spangled Banner” on piano, full of light New Orleans-style twists that made a familiar tune deeply unpredictable (in the best possible way).
Read more »
Pregnant Chrissy Teigen Wows in Pink at White House State DinnerChrissy Teigen shows off her effortless maternity style during date night at the White House. Teigen Teigen and her husband, John Legend, attended the star-studded state dinner together as their first visit during President Joe Biden's term in office.
Read more »
Trump White House counsel Pat Cipollone testifies before federal grand juryTwo top Trump White House lawyers testified before a federal grand jury investigating the events surrounding the Jan. 6 attack on the U.S. Capitol, sources familiar with the matter tell ABC News.
Read more »
White House won't name Trump or Kanye West as reason for Biden Holocaust tweetThe White House declined on Friday to single out Ye, the rapper formerly known as Kanye West, or former President Donald Trump as the target of President Joe Biden’s tweet condemning antisemitism and Holocaust denial.
Read more »