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Recession over? 6,000 jobs vanished last year

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By Harold Morgon

For more than a year, New Mexico has had 6,000 more people working than we thought we had. Or not.
If that sounds odd, it is odd. Maybe even another reason to distrust “the government,” one part of which is the source of dilemma.
Another piece of the government, the Legislative Finance Committee called it a “perceived error.”
I’ll explain. But first step back to a bigger picture.
We are all, people and organizations, measured by our accounting systems.
For people, the accounting measures might start with the amount of cash in the pocket, step up in sophistication to a checking account, then to computer tracking of spending and income and go from there.
Business accounting might start with cash in pocket for someone in the informal economy, move to a checking account for a proprietorship and escalate to the enormous complexities of a large public firm.
Still, it is counting, whatever the complexity.
 A necessary assumption is that the systems work and are accurate, mostly, whatever the complexity.
The monthly job count provides a key accounting of economic performance for states and metro areas.
The headline grabbing numbers come from the federal Bureau of Labor Statistics via the state’s Department of Workforce Solutions.


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