by an alternate measure, employment is improving more rapidly th

http://blog.macroaxis.com/2010/09/04/snapshots-of-the-employment-situation-august-2010/

Snapshots of the Employment Situation, August 2010
{ Posted on Sep 04 2010 by Menzie Chinn }Tags : Economics, Funds, Investing, Investments, market, Portfolio Optimization, Stock, trading, Wall Street
Categories : Econbrowser, Money, employment I thought I'd add a few observations on the latest employment report (other reports here: [NYT], [WSJ RTE/Izzo] [CR], [Economist's View]). First, by an alternate measure, employment is improving more rapidly than the standard nonfarm employment (NFP) measure. Second, the alternate measure increased faster than nonfarm payroll employment over the period of temporary Census hiring. Third, aggregate hours worked in the private sector continues to rise faster than private sector employment. Fourth, the NFP growth consistent with zero GDP growth is lower in the last decade, versus previous decades, even while the elasticity of NFP growth with respect to GDP growth has risen.