December 2023 Jobs Report - Welfare Jobs Are Booming!


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AI Analysis:

In the U.S., the Bureau of Labor Statistics (BLS) releases two primary reports regarding employment data: the Establishment Survey (or nonfarm payroll) and the Household Survey (or Current Population Survey).

Establishment Survey (Nonfarm Payroll): This survey collects data from businesses and establishments regarding the number of jobs created or lost in various industries. It covers approximately 145,000 businesses and government agencies, representing around 697,000 individual worksites. The data collected includes employment figures, average workweek hours, and average hourly earnings across different sectors. The Establishment Survey provides insights into the overall health and trends in the labor market, indicating changes in total employment.

Household Survey (Current Population Survey): This survey involves interviews with approximately 60,000 households, totaling around 110,000 individuals. It provides a broader perspective on employment by capturing self-employment, part-time employment, and other nuances that might not be reflected in the Establishment Survey. It also measures the unemployment rate, labor force participation rate, and demographic characteristics of the workforce, offering insights into broader aspects of employment, including unemployment and underemployment.

Both surveys contribute valuable information to understand the labor market, but they have different scopes and methodologies. The Establishment Survey emphasizes business establishments and is used to calculate total nonfarm payroll employment figures. The Household Survey focuses on individual households and provides a more comprehensive view of employment, including self-employment and other factors not captured in the Establishment Survey.


December 2023 Jobs Report


December 2023 Jobs Report

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