"This job is a test. It is only a test. Had it been a real job, you would have received bonuses, raises, and promotions."
-- Sign at a lobster pound in Maine* * *
The Employment Development Department (EDD) of California has revised job-loss figures for 1993 and 1994, years in which the state was still in the midst of one of its worst recessions in recent memory. Rather than losing 143,200 "nonfarm" jobs in 1993, as previously reported, the state had roughly the same number of jobs at the end of the year as at the beginning. In 1994 California actually gained 150,000 jobs. So how does a state "miss" a quarter of a million jobs? It turns out, says the EDD, that much of the error can be attributed to the undercounting of small companies.* * *