Final notes about yesterday’s jobs report


A couple of final thoughts about yesterday’s jobs report…

One little-noticed aspects of yesterday’s jobs report comes via National Review:

The Labor Department once again made large upward revisions to prior months.

Including these revisions, nonfarm payrolls were up 168,000 and private payrolls were up 196,000, both beating consensus expectations. Some analysts ignore these revisions, but we think that’s a big mistake. Normal monthly revisions to the original payroll report have now been positive for ten straight months and have averaged about 40,000 per month during this period. As a result, without revisions, analysts have a systematically and downwardly biased impression about the job market.

Also, there was this nugget from the New York Times:

Today the United States economy is producing even more goods and services than it did when the recession officially began in December 2007, but with about five million fewer workers.



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Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including,,, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.