NC State Extension Ag Economist Dr. Mike Walden – “Explaining the Unusual Job Report”

 

Mary:  I’m Mary Walden, with economist MW, welcoming you to the economic perspective.  Today’s program tries to explain the unusual job report.  Mike, the most recent job report for North Carolina was confusing – at least to me.  The state’s unemployment rate dropped, but one measure showed there were fewer jobs.   But another measure indicated there were more jobs.  Wow, my head is swimming – can you me understand?

Mike: Summary Answer

  1. Let me try
  2. Point 1: there are two separate and independent job reports – one based on interviewing a sample of households; the second a sample of businesses
  3. Point 2: the report using households did show a drop in jobs, but also in employment. Reconciled by fact that larger number of people dropped out the labor force – could be college professors with end of the school year
  4. Point 3: report from businesses showed more jobs
  5. Point 4: putting the two reports together, say that fewer people held more jobs – so maybe what is happening is more people adding a second or third job
  6. I’m MW

 

Mary:  And I’m Mary Walden for the North Carolina Cooperative Extension Service


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