Steve Friedman on the Employment Report

Kash comes through again with the monthly BLS report on employment. As I was reading it, CNN was interviewing Mr. Friedman. Noticing the big pop in the Household Survey number, I was expecting him to pull the usual Snow job where the allegedly more reliable series (Household v. Payroll) was the one that showed the larger increase for the most recent month. But Friedman stuck to the Payroll figure preferring to emphasize the increase in Payroll Employment over the long-term.

Now I would agree that short-term variations in these survey numbers can be misleading but if we define the long-term as what has happened since Bush took office, employment has fallen by more than 300 thousand. But Friedman claimed employment growth over the long-term has been great. Huh?