A few weeks ago the BLS slid this under the door; Business Employment Dynamics report, which rather than using surveys, trend models, birth / death models and slight of hand, actually counts jobs created and lost at each employer, and tracks all new business and closing of businesses. This puppy is released on a two quarter delay. To be be quite honest, I'd never heard of it before, and stumbled upon it on another blog (forgive me, I can't remember which one). The point is, in a quarter where we were told that hundreds of thousands of jobs were created, only 19K were actually created (Q3 of 2006). We know that employment has slowed since then. Putting these two items together, its likely the economy is shedding jobs like a cheap suit.
