Thoughts on business school, economics, NC State, and everyday life from an economist at NC State's business school
Saturday, May 7, 2011
Another encouraging jobs report
For two reasons. First and most obvious, we have now had three months in a row of adding over 200k jobs and they are private sector jobs. Second, unemployment went up slightly, which is actually good news because it reflects more people entering (or re-entering) the labor force. This is a signal that the non-employed feel that it is worth their time to dip their toe back into the market. For more details, see today's NYT account. CORRECTION: NYT changed their account and I need to change mine. The labor force actually did not change all that much. The unemployment rate is based on a household survey, which showed a small decline in employment. But who are you going to believe -- payroll data from employers or phone surveys? Does anyone actually answer phone surveys any more?
Steve Allen is Associate Dean for Graduate Programs and Research in the College of Management at NC State University. He has appointments in the Department of Economics as well as the Department of Management, Innovation, and Entrepreneurship. Steve also is a Research Associate of the National Bureau of Economic Research, a non-profit research organization located in Cambridge, Mass.