Jobs created in June? Try jobs *lost*

Posted by: Phineas on July 6, 2012 at 3:01 pm

**Posted by Phineas

If this is true, then the economic news isn’t just bad for Obama, it’s devastating:

The birth-death model, which approximates the amount of jobs gained through new businesses created too recently to be counted in the formal survey, added 124,000 positions, meaning that without the estimation the total count would have been a loss of 44,000.

So much for that claim of 80,000 jobs created in June and NPR’s pathetic spin.

(Crossposted at Public Secrets)

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6 Responses to “Jobs created in June? Try jobs *lost*”

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  1. steveegg says:

    A couple of clarifications regarding the Birth/Death Model:

    – It is an estimation of what jobs are created by newly-created businesses versus what are lost by businesses that just closed up shop. The main reason why it’s a part of the CES estimates is because it takes 6 months before a new establishment is even considered for inclusion in the survey.

    – It also is applied to the unadjusted numbers, not the seasonally-adjusted ones. Specifically in this case, there were 391,000 jobs added on a seasonally-unadjusted basis, so the Birth/Death Model accounts for roughly 32% of the job gain.

    In any case, it still is a horrid report. Just how horrid it will be, and how accurate the Birth/Death model is, will be a lot clearer in 6 months when the 2nd quarter 2012 edition of the Quarterly Census of Employment and Wages (an actual count of every employee whose employer is subject to either state or federal unemployment insurance programs) comes out.

    Just as a further clarification – the criticism is of the CNBC piece, not either you or Bryan Preston. One would have hoped that an organization that bills itself as a business news outlet would know what the Birth/Death Model is.

  2. Statistics are like a prostitute; you can do just about anything you want with them.

  3. foxmuldar says:

    yes jobs lost not gained. Obama goes on the tube bragging about 80,000 more jobs created. The WSJ got it right. Government miscounting unemployed. http://foxmuldar-conservative-thinker.blogspot.com/2012/07/wsj-government-miscounting-unemployed.html
    And what about the Million Illegals that Obama pardoned recently and is ready to provide work permits to many of them. First off who’s going to do the background check and second how does this help the average citizen out of work that might lose a job to an illegal. Is this what you want from your president? All Obama cares about is winning the hispanic and illegals votes.

  4. Drew the Infidel says:

    That 800,000 illegals granted backdoor amnesty is going to grow exponentially from just those 16-30 year olds to number about 4 to 5 million by the time you include parents and younger siblings who will not be deported or leave voluntarily, not to mention the possibility of people in that age bracket being married with children as well. It becomes all the more evident why commiecrats are fighting voter integrity laws. Desperate people do desperate things.

  5. Carlos says:

    The government controls whatever information it feeds to the public. For decades, even centuries, the LSM has taken the government at its word (with a few specific exceptions, like Watergate).

    Now we have as Dear Leader one who would lie to his mother, to his wife, to his children, just to look good. You think maybe he’d not lie to the voting (and potentially voting) public? In a pig’s eye he wouldn’t.

    The person (I hesitate to call him a man because he certainly doesn’t fit my definition of a real man) is an inveterate liar and megalomaniac, and can’t be trusted with the keys to the toilet room, let alone the nation.

    However, his narcissism is going to be his undoing should he allow free elections this fall, and then he’ll have his comeuppance for all the crap he’s dumped upon patriots and the American people.