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Full Transcript Of The BLS' First Post-NFP Public Q&A
The first ever BLS web chat is over and the results are below. To be sure, none of Zero Hedge's more probing (or any) questions were honored but that's ok: we don't claim to be well-connected administration/banking system insiders, on the fast track to hard cover book releases (and maybe sales) any time soon. The overall theme is that for the most part the people who cared enough to participate in this chat a) didn't believe much of what is coming out of the BLS, and b) ridiculed assumption that things are getting even remotely better. Although not even an hour had passed from the release that Robert Gibbs (@PressSec) twitted the following: "Looking at jobs numbers...in first 3 months of '09 averaged 753,000 jobs lost - first 3 months of this year, average of 54,000 jobs created." And then they wonder why the population, which is not as dumb as the admin wants to believe, does not believe a single governmental release.
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Emily Liddel:
Hello, and welcome to BLS’ first web chat. Today we will be discussing the employment report, which was released at 8:30 this morning. We won’t be able to answer all the questions, but we will do our best to answer as many questions as we can in the hour. Today we have a panel of experts from both the Current Population Survey (CPS) and the Current Employment Statistics (CES) programs ready to discuss today’s employment report. Our Without further ado, let’s get to your questions! |
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9:30
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Friday April 2, 2010 9:30 Laura Kelter (BLS-CES)
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9:31
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Friday April 2, 2010 9:31 Tom Nardone (BLS-CPS)
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9:32
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Friday April 2, 2010 9:32 Tom Nardone (BLS-CPS)
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9:32
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Friday April 2, 2010 9:32 Michele Walker (BLS-CES)
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9:32
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Friday April 2, 2010 9:32 Steve Haugen (BLS-CPS)
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9:32
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Friday April 2, 2010 9:32 Tom Nardone (BLS-CPS)
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9:32
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Friday April 2, 2010 9:32 Angie Clinton (BLS-CES)
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9:32
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Friday April 2, 2010 9:32 Michele Walker (BLS-CES)
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9:33
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Friday April 2, 2010 9:33 Tom Nardone (BLS-CPS)
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9:34
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Friday April 2, 2010 9:34 Michele Walker (BLS-CES)
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9:36
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Friday April 2, 2010 9:36 Chris Manning
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9:38
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Friday April 2, 2010 9:38 Glenn Mills
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9:38
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Friday April 2, 2010 9:38 Tom Nardone (BLS-CPS)
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9:38
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Friday April 2, 2010 9:38 Jeffrey Palermo
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9:38
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Friday April 2, 2010 9:38 Steve Haugen (BLS-CPS)
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9:38
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Friday April 2, 2010 9:38 Michele Walker (BLS-CES)
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9:40
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Friday April 2, 2010 9:40 Terry Sheehan
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9:40
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Friday April 2, 2010 9:40 Laura Kelter (BLS-CES)
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9:40
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Friday April 2, 2010 9:40 Mark
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9:41
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Friday April 2, 2010 9:41 Angie Clinton (BLS-CES)
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9:42
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Friday April 2, 2010 9:42 Dustin
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9:42
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Friday April 2, 2010 9:42 Chris Manning
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9:44
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Friday April 2, 2010 9:44 richard
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9:44
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Friday April 2, 2010 9:44 Steve Haugen (BLS-CPS)
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9:44
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Friday April 2, 2010 9:44 Terry bonds
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9:44
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Friday April 2, 2010 9:44 Michele Walker (BLS-CES)
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9:45
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Friday April 2, 2010 9:45 Mark M
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9:45
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Friday April 2, 2010 9:45 Tom Nardone (BLS-CPS)
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9:48
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9:48
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Laura Kelter (BLS-CES):
Dear Friday April 2, 2010 9:48 Laura Kelter (BLS-CES)
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9:51
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9:51
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Angie Clinton (BLS-CES):
Ted, Friday April 2, 2010 9:51 Angie Clinton (BLS-CES)
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9:51
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9:51
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Laura Kelter (BLS-CES):
Dear Ryan, Thanks for your questions. The When More information can be found on this subject at http://www.bls.gov/bls/confidentiality.htm. http://www.bls.gov/web/empsit/cestn1.htm Friday April 2, 2010 9:51 Laura Kelter (BLS-CES)
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9:52
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9:52
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Tom Nardone (BLS-CPS):
Lara: http://stats.bls.gov/cps/eetech_methods.pdf Friday April 2, 2010 9:52 Tom Nardone (BLS-CPS)
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9:53
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9:53
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Steve Haugen (BLS-CPS):
Chris, At the 90 percent level of confidence, the standard error on the Friday April 2, 2010 9:53 Steve Haugen (BLS-CPS)
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9:54
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9:54
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Laura Kelter (BLS-CES):
Dear Friday April 2, 2010 9:54 Laura Kelter (BLS-CES)
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9:55
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9:55
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Tom Nardone (BLS-CPS):
Stephanie: Those data should be available in the fall of this year. Friday April 2, 2010 9:55 Tom Nardone (BLS-CPS)
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9:56
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9:56
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Chris Manning (BLS-CES):
Hi Friday April 2, 2010 9:56 Chris Manning (BLS-CES)
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9:58
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9:58
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Angie Clinton (BLS-CES):
Mike, Friday April 2, 2010 9:58 Angie Clinton (BLS-CES)
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9:59
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9:59
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Tom Nardone (BLS-CPS):
Dear Friday April 2, 2010 9:59 Tom Nardone (BLS-CPS)
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9:59
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9:59
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Michele Walker (BLS-CES):
Hi Normal, Thanks for your question. The diffusion indexes for total private and manufacturing can be found in The Employment Situation, Summary Table B. http://www.bls.gov/news.release/pdf/empsit.pdf You can also find this data online at: http://data.bls.gov:8080/PDQ/outside.jsp?survey=ce Friday April 2, 2010 9:59 Michele Walker (BLS-CES)
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9:59
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10:00
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Laura Kelter (BLS-CES):
Dear Madeline, thanks for your question. Information on sample coverage by industry can be found on table 2ca on: http://www.bls.gov/web/empsit/cestntab.htm Friday April 2, 2010 10:00 Laura Kelter (BLS-CES)
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10:02
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10:02
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Steve Haugen (BLS-CPS):
Bryan, The monthly unemployment rates for Gulf War Era ll veterans are not Friday April 2, 2010 10:02 Steve Haugen (BLS-CPS)
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10:04
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10:04
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Chris Manning (BLS-CES):
Hi Friday April 2, 2010 10:04 Chris Manning (BLS-CES)
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10:06
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10:06
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Tom Nardone (BLS-CPS):
The Friday April 2, 2010 10:06 Tom Nardone (BLS-CPS)
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10:07
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10:07
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Laura Kelter (BLS-CES):
Dear Friday April 2, 2010 10:07 Laura Kelter (BLS-CES)
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10:08
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10:08
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Michele Walker (BLS-CES):
Hi Brian B, Thanks for your question. The Friday April 2, 2010 10:08 Michele Walker (BLS-CES)
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10:09
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10:09
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Angie Clinton (BLS-CES):
Mark, Friday April 2, 2010 10:09 Angie Clinton (BLS-CES)
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10:09
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10:09
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Tom Nardone (BLS-CPS):
Ken: Yes, retired non working persons are included in the civilian non institutional population. Friday April 2, 2010 10:09 Tom Nardone (BLS-CPS)
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10:10
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10:10
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Steve Haugen (BLS-CPS):
Miss K, The Unemployment Insurance (UI) program is completely separate from Friday April 2, 2010 10:10 Steve Haugen (BLS-CPS)
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10:12
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10:12
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Emily Liddel:
Richard, Friday April 2, 2010 10:12 Emily Liddel
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10:12
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10:12
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Laura Kelter (BLS-CES):
Dear Friday April 2, 2010 10:12 Laura Kelter (BLS-CES)
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10:15
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10:15
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Tom Nardone (BLS-CPS):
Dear Friday April 2, 2010 10:15 Tom Nardone (BLS-CPS)
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10:16
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10:16
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Chris Manning (BLS-CES):
Hi Madeline, thanks for your question. Table 2-Cc on http://www.bls.gov/web/empsit/cestntab.htm displays total private CES sample employment by size. Friday April 2, 2010 10:16 Chris Manning (BLS-CES)
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10:16
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10:16
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Angie Clinton (BLS-CES):
Madeline, March is selected for the annual benchmark, because it has less seasonal variation than most months and no holidays. Friday April 2, 2010 10:16 Angie Clinton (BLS-CES)
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10:18
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10:18
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Tom Nardone (BLS-CPS):
Daniel: http://stats.bls.gov/cps/documentation.htm#ces_cps Friday April 2, 2010 10:18 Tom Nardone (BLS-CPS)
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10:19
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10:19
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Steve Haugen (BLS-CPS):
Ken, In Friday April 2, 2010 10:19 Steve Haugen (BLS-CPS)
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10:20
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10:20
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Angie Clinton (BLS-CES):
Ryan, Friday April 2, 2010 10:20 Angie Clinton (BLS-CES)
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10:21
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10:21
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Laura Kelter (BLS-CES):
Dear ten40. Thanks for your questions. Over the last 3 months, manufacturing has added 45,000 jobs, with most of the gains in durable goods industries. Manufacturing Construction For more industry analysis, please see: http://www.bls.gov/web/empsit/ceshighlights.pdf Friday April 2, 2010 10:21 Laura Kelter (BLS-CES)
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10:21
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10:21
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Tom Nardone (BLS-CPS):
Finnman: http://stats.bls.gov/lau/#news Friday April 2, 2010 10:21 Tom Nardone (BLS-CPS)
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10:22
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10:22
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Laura Kelter (BLS-CES):
Thanks Madeline! Friday April 2, 2010 10:22 Laura Kelter (BLS-CES)
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10:27
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10:27
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Emily Liddel:
Jason, Friday April 2, 2010 10:27 Emily Liddel
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10:27
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10:27
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Michele Walker (BLS-CES):
Hi Chuck Young, Thanks for your question. Historical Birth/death Friday April 2, 2010 10:27 Michele Walker (BLS-CES)
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10:27
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Steve Haugen (BLS-CPS):
Submitted via email by Will: The You're right…unemployment figures generally were not available during the 1930s. The Friday April 2, 2010 10:27 Steve Haugen (BLS-CPS)
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10:28
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10:28
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Tom Nardone (BLS-CPS):
Miss Friday April 2, 2010 10:28 Tom Nardone (BLS-CPS)
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10:29
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10:29
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Chris Manning (BLS-CES):
Hi Friday April 2, 2010 10:29 Chris Manning (BLS-CES)
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10:29
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10:29
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Angie Clinton (BLS-CES):
Employment Friday April 2, 2010 10:29 Angie Clinton (BLS-CES)
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10:30
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Emily Liddel:
Well, we’ve run out of time. We've certainly enjoyed chatting with you today. Thank you for all your great questions! If we didn’t get to your question, please feel free to contact us, and we will be sure to get back to you. Household data (CPS): Email | Phone: 202-691-6378 Establishment data (CES): Email | Phone: 202-691-6555 |
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Do they have some kind of web counter that clicks everytime someone emails a resume?
That's saved or created, not created. See the difference, dumbass?
For some moronic reason, I had pictures of a smiling Christina Romer dancing in my head during the whole chat session.
I feel a little dirty.
Was Lazear playing the music she was dancing to?
Yep. With a kazoo, no less.
A question from the 10:12 mark and the non-answwer. After reading the full transcript I have even less confidence in the BLS (and entire gov't) data than ever...if that's possible.
[Comment From Tom Lawler Tom Lawler: ]February's non-farm payroll employment was revised up by 62,000 on a seasonally adjusted basis, but the not seasonally adjusted employment number was revised up by just 4,000. This apparenlty is related to the bizarre practice of revising seasonal factors each month, but only for the previous two months. Why in the world does the BLS do this?
Friday April 2, 2010 10:12 Tom Lawler 10:12 Laura Kelter (BLS-CES):
Dear Tom. CES estimates are seasonally adjusted using a concurrent seasonal adjustment methodology. For more details on our research on this method, please see: http://www.bls.gov/ces/cescsapdf.pdf
Stupid in, stupid out.
Dear BLS:
Using the information available from other sources such as Mr. John William's "ShadowStats.com" service, we can see that unemployment (as previous measured before the Clinton era) actually peaked around 22% and appears to be moving flat.
The SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLSestimate of U-6 unemployment, which includes short-term discouraged workers.
These numbers do not account the unemployed in groups that one might call "the underground economy or unreported/documented workers" -- working under the table, including: babysitting teenagers, part-time laborers, landscapers, farmhands, etc... (so let's consider that category a wash, because they were never counted?).
My question is this: If the "Great Depression" had an estimated 25% unemployed, and we currently have 22% actual unemployed (combined with negative GDP growth) couldn't one surmise that we are economically worse off in this current Greater Depression and that long term unemployment (U6) will continue to increase dramatically?
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