Survey News :
Payroll vs. Unemployment Rate Surveys
Survey News reports that even though the US economy added 155,000 jobs in December, the unemployment rate held firm at around 7.8%. Even though this was slightly lower than November, adding these jobs should push down the unemployment rate. Why doesn’t it? Survey news discovered that the two different surveys that the government uses to determine the unemployment rate makes it difficult to really determine what the actual unemployment rate is. These are the two surveys that report how the economy is going considering job gains.
Payroll Survey News
This survey consists of information from companies and government agencies as to how many people they employ each month. The survey news from this report is very specific to the number of jobs gained or lost at the federal, state and local level. In December, the payroll survey news results showed that large companies added approximately 168,000 new jobs while the government cut 13,000 jobs.
Household Survey News
This survey is a little bit more confusing than just the standard payroll survey. There’s a little bit more room for a mistake with this survey and calculating exactly how the job growth is going in my opinion. Surveys news takers, either through online surveys or phone surveys, asked the adults that live in specific households if they have a job. If they are searching for a job, they’re considered unemployed and counted as part of the workforce. If they are not looking for job at that specific time, they are not counted as part of the unemployed statistic. Survey news reports that in December that those looking for a job or actually working rose by hundred and 192,000, but only 28,000 of those surveyed said they actually found a job. The survey news poll results for this particular survey almost pushed up the unemployment rate. But because of the fact the government likes to round things off, it remained at 7.8%.
Survey News Reports
I believe the household survey does a better job of determining the reality of what Americans are going through when it comes to finding a job. The reason I believe this is because the household survey news report has a better chance of including hiring and firing a small businesses, the self-employed and the farm industry. The only downfall to the household survey, is that to generate this monthly survey news report, the Labor Department only asks approximately 60,000 households out of the hundred million that are available. I believe this leaves too much of a gap to discover the reality of how our economy is growing. Survey news reports from the payroll survey polls information from approximately 140,000 companies and government agencies. These results also include wages, hours worked, and other specific details that provide a more well-rounded opinion of our work force on a month-to-month basis.
Although most Americans tend to sway their survey news results from the household survey, economists tend to look more at the figures from the payroll survey. Regardless of the difference in numbers that come from the survey news results, the numbers tend to even themselves out over time. On average over the past 12 months the payroll survey has shown that 1.84 million jobs has been added while the household survey shows a little bit more improvement with 2.2 million people stating that they had been able to find solid employment.
Start getting involved with online surveys. 2013 is already showing an increase in the need people to add to survey news reports. Along with the increased need, wages for each survey have increased dramatically. Read more about the top survey companies on the Internet here