About | Portfolio | Backup | Archives | PayPal Tip Jar | Amazon Tip Jar | Shop@Amazon
Advertising


Search BillHobbs.com
Stats, Etc.


TTLB Ecosystem Stats
Powered by FeedBurner


« Rotten Tomatoes: The Kerry / Kos Connection
Guest Post By Matt Margolis
| Main | LLC Data Project Update # 11 »

April 3, 2004

Jobs Data Begins to Catch Up to Household Survey

Economist Larry Kudlow on the latest job numbers:

bushboombook.bmpThis is beginning to look more like a traditional post-recession employment recovery. The March jump marks the seventh consecutive payroll jobs gain, for a total of 759,000 new hires, with 61 percent of U.S. industries reporting payroll increases - the highest percentage since July 2000.

Even the gap between the lagging business payroll survey and the stronger household survey of all people working is beginning to narrow. The household survey appears to be more sensitive to self-employed workers who have started their own Subchapter S or LLC (limited-liability corporation) businesses. Responding to lower income-tax rates, these entrepreneurs have registered 1.8 million new jobs since the end of 2002.

LLCs. Household Survey. You know, I seem to recall having read about that somewhere else.

The "jobless recovery" isn't jobless. So John Kerry better keep his day job.

UPDATE: It's worth recalling that, on Jan. 20, 2004, I wrote about an analysis by a group of economists at Bear Stearns, who wrote:

The establishment survey is routinely revised upward at turning points in the economy. Looking back to the 1992-1993 period of weak growth in the establishment survey, payrolls were upwardly revised by 1.88 million jobs in the ensuing year, validating the household survey view of the labor market.
For the latest in my ongoing LLC Data Project, scroll up.

Posted in Economy & Business | Linked By |
Please support HobbsOnline by doing your online shopping at Amazon.com
Comments

Larry Kudlow?

Come now. Is he back on cocaine? Here is a real, live economics professor on Larry Kudlow

Posted by: JadeGold at April 3, 2004 07:12 PM

Can you dispute the facts listed?

No?

Didn't think so.

Posted by: Big Dog at April 3, 2004 08:29 PM

Woo hoo!

And, oh, Jade...

1. More Americans working than in any time in history.
2. More Americans working than at the end of January 2001, when Bush took over.
3. The lowest percentage of Americans living in poverty since Carter.
4. The lowest percentage of families living in poverty since Carter.
5. 2.4 million jobs added since the depths of the Clinton recession.
6. And... the number of people not working, but wanting to work is lower than any time in the period 1/1994 through 7/1997, and lower than in 8 of the following 15 months.

When are people going to realize that the Clinton bubble was an abberation? Our economy does not work like that normally. The only time in the last 25 years that the unemployment rate was lower than now was 1996-2000. There are 40 million more people working today than in 1979, and only 2.2 million more unemployed. All of these indicators point to a better economy, and an economy that is historicly better, absent the Clinton bubble. There are fewer Black Americans unemployed than there were in the first 2.5 years of the Clinton Administration and 50% of the jobs lost since the Clinton recession have been regained. There are more Black Americans working today than at any time in our history prior to 1998.

Posted by: Chuck Simmins at April 3, 2004 09:19 PM

Damn, Jade

And you foamy mouthed liberals accuse the Bush Administration of being serial character assassins? Your only response to the post is to accuse someone of being on coke?

Just 2 days ago you disparaged my post about the mayor of DC being hooked on cocaine as an irrelevant side issue. Now (alleged)coke use is your primary means of countering an argument? You're a joke, Jade.

Posted by: Ivan at April 4, 2004 12:20 AM

So John Kerry better keep his day job.

Well, actually it might be better if he were removed from that one too, but since I'm not a resident of MA, I don't get to make that call.

Still, perhaps a bit more careful thought in the future, eh Bill? :)

Posted by: Allen Glosson at April 4, 2004 09:35 AM

We're supposed to take Brad "Impeach them!" DeLong's opinion seriously anymore? Prof. DeLong's become seriously derailed over the last couple of years.

Posted by: Slartibartfast at April 5, 2004 08:46 AM

Retracted. DeLong's insanity is usually confined to his political postings; I think where economics are concerned he's pretty untouchable. The reference to cocaine was in the comments, not in DeLong's main post.

Posted by: Slartibartfast at April 5, 2004 08:50 AM

OK, Prof. DeLong's 'untouchable' as far as economics goes; thus, Kudlow's been exposed as a liar.

As to the cocaine charge--well, it's a matter of public record. He checked into rehab (leaving behind a job at a Wall Street firm) after blacking out from a coke binge and having wife #3 threaten to leave him. If you do a google on 'kudlow cocaine businessweek'--you can get the particulars.

Posted by: JadeGold at April 5, 2004 04:50 PM

Not that it's at all relevant to the topic, just to be clear. Unless you're one to smear the messenger rather than address the message, that is.

Posted by: Slartibartfast at April 5, 2004 08:51 PM

Jade, I don't care about the cocaine charge...my point was that you seemed to be okay with coke use by Barry but not someone you disagreed with, and...dude, never mind...you're not listening anyway.

Jade Gold: Doing more to make Republicans out of Independents than GW's $170M ever could.

Posted by: Ivan at April 5, 2004 09:15 PM

The point being missed, of course, is that Kudlow is to economics as Coulter is to US history.

Kudlow functions as a GOP hack; after all, for the past 20 months, he's predicted that US employment would exceed 300,000 new jobs. He's been right exactly once.

One in twenty buys you a ticket to the minors.

Posted by: JadeGold at April 6, 2004 06:19 AM

I think the other, larger point that's being missed is that whatever Kudlow says ought to be addressed on its merits (or lack thereof). But I understand that sometimes it's just plain easier to throw mudpies rather than have to make an argument.

Still, the right wing needs to purchase more reputable hacks; on that point I agree wholeheartedly. We're way behind the curve in hackdom.

Posted by: Slartibartfast at April 6, 2004 08:24 AM

Of course, JadeGold is right about one time in twenty when writing about things that have already happened.

Posted by: Dr. Weevil at April 6, 2004 05:44 PM
Post a comment
Comments Policy: Your comment is subject to deletion if it is off-topic or includes foul language or personal attack. Readers, please email me if you find comments that include egregious violations of this policy. Comments may not post immediately - do not post twice!









Remember personal info?






Email this entry to:


Your email address:


Message (optional):




back to top
Advertising

blog advertising is good for you
Video Ad Slot
To run your video ad here, contact me at bill-at-billhobbs.com
Archives
Blogroll