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« Pleading With Phil | Main | A Moderate Problem » October 6, 2005Big Surge in Small BizJeff Cornwall looks at the latest data indicating a strong surge in self-employment in America. Last year I tracked a lot of data showing strong growth in the number of limited-liability corporations being formed across the country, with LLCs surging in most every state, indicating strong growth in small businesses that was being missed by one of the two official government employment surveys. (Essentially, the number of people reported having jobs, as tracked by one government survey, was rising much faster than the number of people reported to be employed by large employers in a second government survey.) The data Cornwall is looking at is more evidence that I was right - the government's official employment data is missing a lot of self-employed people and new small businesses. Posted in Economy & Business
Comments
Hobbs as I am (as you like to point out) insufficient as a blogger, I with sincere humility ask you to explain. I didn't read your original prediction, so I am unclear on the meaning. Does this mean that government-reported unemployment rates are overestimating the number of unemployed/under-counting (if that is a word) the number of people actually employed because they aren't counting people employed by small businesses. I am no economic expert, but if I understand what you are talking about, doesn't that mean TN is doing better economically than we thought, and hence the same thing for the country-as-a-whole? Posted by: Rusty at October 7, 2005 12:04 AMPost a comment
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