Why America’s job data may be wrong

The number of employment growth figures from the Bureau of Labor Statistics (BLS) misses this point, which was highlighted by the latest data: in July 2025, the economy added only 73,000 jobs, much less than expected and not enough to keep up with population growth. In addition, the BLS numbers were drastically revised in May and June and reported that the economy grew by 258,000 jobs during these months.

The news was quickly translated into a reduced overall employment, which was widespread. But the BLS numbers give us an incomplete view of jobs in America. Business education statistics from the US Census Bureau shows growth of 6.48% from Q1 to Q2 From this year. This does not seem to be a large number of growth, but it is monumental, compared to the considerable declines listed last year, accelerated as traditional employment growth. It is even more important that new business formations have become increasingly important since Covid for the economy and the growth of employment, but is largely ignored in the BLS job report.

Jeff Stible

Business formations Employment growth is a balance of factors in the US economy, and every economic indicator must take both measures into account, especially in view of the increase in new companies since Covid. Newly founded companies immediately create jobs for their founders and over time for other job seekers and pull people out of the traditional labor market that the BLS only pursue. This artificially improves unemployment assumptions.

In the past there was a strong relationship between economic change and entrepreneurship. The lack of traditional employment opportunities inspires people to create jobs themselves and build a new company was never easier. In particular, artificial intelligence has made it possible for individuals to start business ideas with minimal start -up capital, experience or risk. Immediately available tools can create websites, write copies, design graphics and logos and even find customers. AI can analyze market research and offer price strategies and financial projections smoothly. This quick change accelerates the relocation towards independence and micro -business purchases, not to mention an increase in freelance, advisory and “visual goods”. Marketwatch reported In April 2025 that 51% of the Americans have a part -time job, with the youngest attendants in the country citing the indictment – 72% of the gene Z report on a secondary employment last year. Since people mainly enter the labor market alternative jobs and withdraw individuals from the workforce who leave traditional jobs behind, the changes in the employment type should not surprise or alert us. Rather, we should integrate and include these changes in our thinking and analyzes. While unconventional workplaces can be un -driven, they are still real jobs with considerable economic effects.

Jeff Stible

Traditional work statistics are based on outdated employment models. If the type of work changes, we need more modern methods to precisely evaluate the true health of the economy. A more comprehensive measure would integrate a variety of data sources, including new business registrations and freelance activity, as well as the survey of larger companies and households. With an extended palette we could color a more precise picture of modern work dynamics.

The opinions that were expressed in Fortune.com comments are exclusively the views of their authors and do not necessarily reflect the opinions and beliefs of against Assets.