U.S. Has More Jobs Than Initially Thought

If you suspect it’s getting harder every month to recruit the talent you need, the government says you could be right. The U.S. Bureau of Labor Statistics revised up by almost 400,000 its count of the total jobs in the nation.

The private sector created 452,000 more jobs than was reported in the monthly counts announced by the U.S. Department of Labor. Government payroll cuts reduced the total job gain to 386,000. The monthly report for September will be released October 5.

Most of the industry sectors were revised up. On a percentage basis, the biggest increases were in information services (a category that includes telecommunications, publishing, and IT among others), construction, and mining and logging (largely due to the petroleum industry hiring). Manufacturing lost 25,000 jobs and the professional and business services sector (which includes temporary hiring) dropped 14,000 jobs.

Annually the Bureau of Labor Statistics revises its job counts, using state unemployment insurance tax records required of virtually all companies. The upward revision applies to the period April 2011 to March 2102, meaning that at the end of March the economy had 133.24 million total non-farm people working. The revision represents a .3 percent adjustment to the national count, which is consistent with the revisions over the last 10 years. Just a few years ago, the bureau revised down its job count by some 900,000 jobs.

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“The recovery,” said Justin Wolfers, an economics professor at the University of Michigan, “was not as disappointing as we thought. It was on much firmer footing.”

In a different report, the Department of Labor said initial claims for jobless benefits dropped 26,000 to 359,000 for the week ending September 22. It’s the lowest count since 357,000 claims were filed for the week ending July 21. It was also well below the median estimate of 375,000 new filings that economists in a Bloomberg survey had forecast.

John Zappe is the editor of TLNT.com and a contributing editor of ERE.net. John was a newspaper reporter and editor until his geek gene lead him to launch his first website in 1994. He developed and managed online newspaper employment sites and sold advertising services to recruiters and employers. Before joining ERE Media in 2006, John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group.

Besides writing for ERE, John consults with staffing firms and employment agencies, providing content and managing their social media programs. He also works with organizations and businesses to assist with audience development and marketing. In his spare time  he can be found hiking in the California mountains or competing in canine agility and obedience competitions.

You can contact him here.