Of course, the household survey showed a gain of almost 500,000 jobs
I'm trying to get my head around these numbers. According to
post #5 there was a 496k increase in the household survey ... however 422k people entered the job market.
So does that mean that 496 - 422 = 74k jobs were created, taken up by the people already in the job market?
What's the cross section of the household survey members look like? Have they been in the workforce for a while? Just starting out? Who is hiring them? Are they going into self employment?
So does that mean that 496 - 422 = 74k jobs were created, taken up by the people already in the job market? 496,000 more jobs
422,000 more people (net) in the labor market (people turning 16 + coming to the US + discouraged unemployed folks starting to look for a job again, minus people who retired, decided to stay home with the kids, gave up looking, died)
Could be 1.2 mil enter the labor force, 700k leave, but how many of the newbies start out unemployed and how many previously unemployed got jobs, I've never seen #s for that.