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The second graph is presumably total net change, where total nonfarm jobs added (whether attributed to increasing size of labor force as compared with growth of economic activity) is inclusive, government payroll is usually excluded, and whether or not BLS firm birth/death modeling is credible.

(Un)employment data are by definition percentages of a total population willing and able to work, statutory bounds being 15 < age < death. The BLS JOLT datasets claim to count available employment, or jobs open, or unmet demand, which is silly. But entirely consistent with the current policy assumption that labor skills are fungible.


Diversity is the key to economic and political evolution.

by Cat on Mon Feb 9th, 2009 at 02:35:29 PM EST
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