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Friday, February 03, 2012

Labor market still needs more than 10 million jobs | Economic Policy Institute

http://www.epi.org/publication/labor-market-needs-10-million-jobs/


And yet ...on tracking the Treasury daily statement on withheld income and payroll taxes.

january 2011 $153 billion
january 2012 $158 billion (but with one extra reporting day)

If you go by reporting days year to date ... 21

2011 $176 billion
2012 $178 billion

wages up 1.9% and 1.8+ million new jobs year over year and "only" $2 billion in extra taxes?Not jibing unless high paying jobs being replaced with lower paying/ part time/ survey is over stating employment (or some combination of the three).

"The adjustment increased the estimated size of the civilian noninstitutional population in December by 1,510,000, the civilian labor force by 258,000, employment by 216,000, unemployment by 42,000, and persons not in the labor force by 1,252,000. Although the total unemployment rate was unaffected, the labor force participation rate and the employment-population ratio were each reduced by 0.3 percentage
point."

They revised the overall population by +0.5 percent and nobody mentions that? 

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