Re: Ebay as the new American Jobs Machine!!
On Sep 16, 2006, at 10:11 PM, Stephen E Philion wrote:
Max and Doug, it’s time to see the new wisdom…
http://article.nationalreview.com/? q=OTk0YzMzYzI3YWFkYmE5MzdhN2I5ODIxZjY0MWQ2MTk=
Our Stealth Jobs Boom Why the household survey deserves more attention.
The right loves this argument. Several problems. The two surveys have
different definitions of employment, and annual changes in the
population estimates used to inflate the sample results into national
estimates make direct comparisons difficult. On comparable
definitions, and adjusted for population changes, the HH survey is
1.4 million, not 3 million, ahead of the establishment survey. Also,
the HH survey uses a smaller sample (60,000 households vs. several
million employing establishments) and is less reliable. (CEPR argues
that the household survey misses a lot of poor/minority people, and
so gives a rosier picture of reality than reality deserves.) The
establishment survey is benchmarked every year against unemployment
insurance system records, which have almost-100% coverage of the
employment universe, and semi-benchmarked every quarter against
similar records, and adjustments in recent years have been very
modest. This is cheerleading bullshit.
Doug