“Davidson” submits:
Employment indices for Sept 2010 were released this morning with consternation by many over the 95,000 jobs lost in the month per the Establishment Survey. But, the broader Household Employment Survey showed growth from 139,250,000 to 139,391 or 141,000. This is very much in line with the 1982 recovery and actually appears to be better than some recent recoveries in my estimation. The overwhelming negative commentary seemed focused on the Establishment Survey which is from large companies and misses small businesses altogether where much of job growth in our entrepreneurial society occurs. It always amazes me that many continue to ignore the Household Employment Survey.
Nonetheless, the current economic recovery appears to present a pattern similar to recoveries in the past and rather than fretting, I think that like all recoveries in the past this one may take 4yr-6yrs till we reach “full” employment of ~45% of the population that has been the level since 1984. The high level of temporary staffing this early in the recovery suggests that a more rapid employment growth is likely in 2011 according to American Staffing Assoc research.
