Unemployment down ! the economy heading way, hopefully!

Wow did you see those employment numbers on this weekly economy?  That is fantastic hopefully for the economy we can start seeing the economy on the rebound. It seems like it has been depressed way too long.  Well if any of you out there are reading this and you were one of the ones in this statistic and got a job, Congratulations.  If you do not have one these are good strong signs that you may have a job out there on the horizon.  So keep up the due diligence and your head up and good things will happen and make sure your resume is up to date.

The strong job numbers are a prediction that companies are starting to have confidence in their financial picture that they can take on some additional risk and hire staff.  CEO’s are still timid in their hiring practices because of the economic uncertainty.   I have fortunate enough to have not been laid off but I do know family and friends who were not as lucky.  It is very difficult to see a loved one lose their job due to forces that are beyond their control.

There is a plethora of economic indicators out there that you can give a sense of where the economy is going or the condition of the economy.  This one was recently released and is published monthly by the bureau of labor statistics, I found the information for this article here on CNN Money.

Ever wonder where they got their numbers from?  The numbers come from a sample of the population.  A very small sample, but if you know anything about statistics you can ascertain that if the sample size is large enough you can get a good estimate that would approximate what the population would do.  So every month 60,000 households are surveyed by over 2,000 trained bureau employees on the make up (ie: ages, gender, occupation) of their household.  The sample is large enough to assume that 90 out of 100 times the sample result would be the same as if we had polled the entire population.  Check out the Bureau of Labor Statistics if you want to find out all the nitty gritty on the calculation of the numbers.

So, while this is not a 100% accurate picture of the population, it would be nearly impossible to survey the entire population every month, which is why the census is taken every 10 years.

What data do you look at?  Do you even look at this data?

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