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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: CalculatedRisk who wrote (29507)5/6/2005 1:02:45 PM
From: critical_mass  Read Replies (1) of 116555
 
thanks for pointing that out.

this was good motivation to look at some of the reports on the BLS web site.

looking at series LNU02000000, which is titled "(Unadj) Employment Level", the number you provided (1.179 million) matches the difference between april, 2005 numbers and march, 2005 numbers.

but mistrust of the birth-death adjustment is not misplaced, IMHO.

the difference in the april, 2005 numbers from the april, 2004 numbers comes in at 2.516 million (using the same series) and the sum of the birth-death adjustments (may, 2004 - april, 2005) comes in at 858k.

birth-death adjustments over the past year account for ~ 34% of all job increases (858/2516).

edit: pulled data from here:

bls.gov
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