7/02/2004 08:05:44 AM|||Nathan Moore|||

112,000 payroll jobs were created in June. The growth is less than expected, but still positive.

I still have the suspicious feeling that we are undercounting employment growth. The payroll number undercounts those who start their own business and undercounts small businesses who increase their hires. The focus on larger employers misses the vast majority of the economy, and does not reflect the individualism enabled by various advents in technology and the emergence of small business servicing firms. The move towards entrepreneurship is consistent with other economic growth numbers, from raw GDP growth to new housing starts and durable goods sales growth.

Just a thought.

|||108877378437806112|||Job Growth Continues