850,000 Or 530,000: What Is The Real Number Of Jobs Created In 2010?
Now that the impact of census hirings is presumably over, one would think it is fair to say that the whole private versus non-private distinction can go away. Because with the census program now netting itself out, as census hirings and firings offsetting, the only thing that matters is private and non-census government hiring. And to say that non-census government hiring is irrelevant, when it is precisely the government's hiring that has been the only category that is flat or positive for the duration of the second great depression, would be about the equivalent of calling the Hiroshima bomb a modest gust of wind. Which of course has not prevent Obama to completely strip out the government impact on jobs in 2010, when in a speech earlier he told an adoring audience that he has created 850,000 jobs in 2010 (for those who care the clip can be seen here). Which is in essence completely ignoring the impact of the millions, or, as some would say, billions, of non-census government jobs in the economy. What's more, Obama conveniently forgot to mention that the BLS just revised its trailing 12 month NFP number by 366 earlier today, taking a major Birth/Death biased haircut out of the propaganda numbers. Which is why when adding all YTD NFP numbers (excluding census), and excluding the now revised impact of the 366,000 on a monthly basis (30.5K from from the January-March numbers), one gets a number of 530K jobs, which is about 62% of the number boasted by Obama earlier.