4.7 • 9.2K Ratings
🗓️ 3 June 2022
⏱️ 9 minutes
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0:00.0 | NPR. |
0:11.8 | This is the indicator from Platinum Money I'm Darien Woods. |
0:14.7 | And I'm Whelan Wang and it's Jobs Friday! |
0:20.2 | That's right, Jobs Numbers Route today showing solid growth. |
0:23.7 | We had 390,000 jobs added to the US economy in May and the unemployment rate is unchanged |
0:29.9 | at 3.6%. |
0:32.0 | Here at the indicator, Jobs Growth is one of our favorite economic indicators. |
0:36.4 | It's this really direct measure of how the economy is going in a way that has this tangible |
0:42.3 | wide-reaching effect on everyday people. |
0:45.6 | And like all super fans, we at the indicator love going behind the scenes. |
0:50.0 | We want to go backstage to the economic statistics, green rooms and eavesdrop on the bespectacled |
0:56.3 | heroes entering numbers into databases. |
0:59.7 | Last year we said in on how price inflation data was collected. |
1:02.8 | And now we're going to learn how jobs numbers are put together. |
1:07.6 | To dam the show, behind the scenes of Jobs Friday, we listen in as tightly held secrets |
1:14.5 | that could move markets are whispered over the phone to a Florida call center. |
1:25.2 | There are two main surveys that go into Jobs Friday, one that surveys households for |
1:30.0 | things like unemployment and a second survey of businesses and government agencies. |
1:35.1 | This one is called the Establishment Survey. |
1:37.8 | And this is where you get the jobs numbers, that 390,000 jobs added to the economy in May. |
1:44.0 | And every month, the Establishment Survey interviews about 130,000 employers. |
1:50.0 | It covers about a third of all non-farm workers in the country. |
... |
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