These jobs lost/gained and unemployment statistics, especially on a monthly basis, and when the numbers are so small, are just noise. Seasonal adjustments alone (baseline assumptions on how many people should be employed) make them meaningless, as does the government definition of being unemployed or looking for work. As far as the government is concerned if you have been looking for a job for so long and/or are so d…
"And then you have the current president's habit of just lying about everything…"
And I suspect, sometime in the future, we're going to discover that the numbers were even worse than we thought they were—were covered up.
These jobs lost/gained and unemployment statistics, especially on a monthly basis, and when the numbers are so small, are just noise. Seasonal adjustments alone (baseline assumptions on how many people should be employed) make them meaningless, as does the government definition of being unemployed or looking for work. As far as the government is concerned if you have been looking for a job for so long and/or are so d…
And this is even after Trump fired the previous Bureau of Labor Statistics commissioner for simply reporting poor jobs growth.
These jobs lost/gained and unemployment statistics, especially on a monthly basis, and when the numbers are so small, are just noise. Seasonal adjustments alone (baseline assumptions on how many people should be employed) make them meaningless, as does the government definition of being unemployed or looking for work. As far as the government is concerned if you have been looking for a job for so long and/or are so d…
>As far as the government is concerned if you have been looking for a job for so long and/or are so discouraged that you stop looking, then you are no longer "unemployed" since you are not looking for a job. > ... >When you read headlines of companies laying off thousands of employees, that's real. When the government says they've retroactively adjusted their seasonally adjusted fake news, then not so much. The BLS k…
At this point it's fair to doubt just about any claim or number that comes out of the federal government. I'm sure there are still thousands of honest researchers and professionals at all levels of the executive branch, but over the past year so many of them have been pushed out and so many more have been under pressure to produce only politically-approved output, that the federal government is becoming increasingly unreliable as an institution.
I wonder if this is the evidence of the labor market decoupling from "the economy" in terms of economic productivity? Folks keep predicting it. Maybe it's starting?
Maybe we can finally reach communism by first getting together and all agreeing "the economy" isn't a science and if we all just believe really hard, numbers can go up forever, then we won't even need money!