NU Online News Service, Feb. 9, 12:40 p.m. EST
Total insurance-industry employment grew by over 5,000 jobs in December 2011 compared to November, but Insurance Information Institute President Robert Hartwig notes that the "big news" is not the month-to-month changes, but rather the recalibrating of current and recent industry employment.
In an analysis of the U.S. Labor Department's Bureau of Labor Statistics (BLS) figures, Hartwig says BLS employment data comes from surveys "which are, of course, subject to estimation error." He says BLS annually "re-calibrates its assumptions to reflect more accurate data obtained in the Quarterly Census of Employment and Wages—a broader-based survey—to try to keep them accurate."
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