Quick education BLS labor reports on unemployment

[AllentownJake]

Weekly report of businesses.

This report is a telephone survey of businesses the BLS believes represents the economy. Statistical assumptions are made from responses and a job gain/lossed number is reported. The underlying data is a sample. The jobs created/lossed numbers are based on the equation they use based on that sample. These are not actual payroll numbers. It is an estimate based on the sample chosen by BLS.

Monthly labor pool report

This report is a survey of 50,000 people. It is probably actually more than that but they keep surveying people till they get the demographic information they select.

There are several categories of employment. Each category excludes/includes people by classification.

The number most often reported is the U3 which is a narrow measurement.

WHAT THE REPORT DOES NOT MEASURE

Unemployment claims and payrolls.

You can be collecting unemployment and still be a "discouraged worker"

You can be unemployed and not collecting and still considered not discouraged based on whether or not you looked for a job this past month.

I could write more, but I hope everyone can understand these basics so no one makes dumb comments when these reports are discussed.

[Cant trust em]

1. unemployment numbers are so ripe for spin you could get dizzy.

Feels like being in a centrifuge sometimes.

[AllentownJake]

2. That is not unintentional nt.

[AllentownJake]

3. Kick

I'm so tired of explaining this everytime this report is commented on or reported.