"The reports show that more people are working," Charles Biderman, the firm's founder, told The Hill.
Wages and salaries rose 3.9 percent year-over-year in March, the biggest jump in 2 years, Biderman said. Boosts in salaries accounted for roughly 1.9 percent of the increase. The rest was job creation.
"That's probably where the bulk of the gains are coming from," he said.
The Bureau of Labor Statistics will announce its jobs figures on Friday.
Biderman does not expect the BLS findings to mirror his own since they use historical data, and not the real time information he garnered from Treasury.
"If they used real time they'd probably have to fire a few of their economists," he said.
March 31, 2010, 06:23 pm