January 14, 2011
– Comments (3)
Rec. Thanks man!
Glad he mentioned about Monday being a U.S. holiday otherwise I'd not have known probably until Monday.
Related to his mention of the 440,000 new unemployment claims for last week, we also get the annual benchmark revision on Feb 4th with the January 2011 employment situation update.
Dec 2009 civilian labor force 153.172 million
Nov 2010 civilian labor force 153.950 million
Dec 2010 civilian labor force 153.690 million after annual reset of monthly seasonality adjustments. This leaves the Dec-Dec civilian labor force growth at 518,000. The annual birth/death business model benchmark revision estimate is -366,000. That's 366,000 jobs whacked from the starting estimates of 2010, leaving only 152,000 of the 518,000 Dec-Dec jobs growth that will survive the annual benchmark reset. Am I reading this correctly, or did 2010 growth generate fewer than 13,000 civilian labor force jobs per month, after adjustments and resets?