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These estimates of jobs destroyed by trade sound big, but they're actually tiny.
In addition, estimates of jobs growth were revised upward for August and September.
Note, though, that the IMF estimates of jobs created in the U.S. are substantially lower than the figure reported by the Bureau of Labor Statistics.
Estimates of jobs created range from an increase of 125,000 jobs to an increase of 250,000, placing the consensus at about 190,000 new jobs.
It is also because the economy is a hard thing to measure, and the initial estimates of jobs growth are crude.
In a speech last March, Ben S. Bernanke, a Federal Reserve governor, noted that estimates of jobs lost to outsourcing were quite small compared with the 15 million jobs lost every year for all reasons.
Similar(52)
Media reports probably treat the government's initial estimates of job growth with too much credulity.
Estimates of job creation or destruction often come from economic consultants hired by groups lobbying for or against a proposal.
But the council did update its estimates of job growth to account for the recovery's recent strength.
The government's estimates of job creation are not particularly accurate, a point that is often made and often ignored.
Taking survey data and using statistical models to translate them into estimates of job creation introduces more error.
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