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Article: Accuracy of payroll survey questioned.
- Article from:
- Chicago Tribune (Chicago, IL)
- Article date:
- August 6, 2004
CopyrightCOPYRIGHT 2004 Chicago Tribune. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Michael Oneal
CHICAGO _ It wasn't so long ago _ a couple of months, maybe _ that economists and other pundits were jettisoning the term "jobless recovery" like some unruly party-crasher.
From January to May, the economy created an average of 225,000 jobs per month. And if the robust economic recovery had failed to produce meaningful job growth up till then, that surely wasn't the case anymore.
Even after the pace of job growth slowed sharply in June, most experts on the economy confidently declared the result an anomaly or, at worst, a speed bump.
As recently as July 21, Federal Reserve Vice Chairman Roger Ferguson told a ...