QQEW - Can We Reconcile Jobless Claims To Payrolls?

• The Bureau of Labor Statistics estimates that in the month of March 2021 somewhere around 916,000 payrolls were added back to the economy.
• I have to disclaim the figure simply because the statistics used to create it aren't really all that precise.
• Is it plausible to believe that almost 3 million jobs were destroyed or somehow disappeared but then nearly 4 million others must have been either created or, more likely, taken out of mothballs from their previous COVID hibernation?
• There's an enormous and perhaps unappreciated level of turnover or churn in any given month; sizable gray area for all sorts of statistical complications and trip-ups in analysis.
• Our difficulties, like in jobless claims, are in how to measure it such that we can interpret meaningful changes or conditions.

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