Sandwichman
Thanks for this. Interesting that we never see the alternate measures but just the official number which really tells us very little. In fact is misleading. Arthur From: [email protected] [mailto:[email protected]] On Behalf Of Sandwichman Sent: Friday, April 29, 2011 11:31 AM To: [email protected]; RE-DESIGNING WORK, INCOME DISTRIBUTION, EDUCATION Subject: Re: [Futurework] 5 government statistics you can't trust - Business - Eye on the Economy - msnbc.com Harry, The unemployment rate and the number of jobs created are products of two distinct surveys. The unemployment rate comes from a survey of households and the jobs number comes from a survey of business establishments. Those two surveys are not always in perfect agreement with each other in the short term, although they tend to converge over time. There is also the fact that "discouraged workers" are not counted in the "official" unemployment rate (there are several measures of underemployment that includes them: see "alternative measures of labor underutilization" http://www.bls.gov/news.release/empsit.t15.htm. For example, the U6 measure at 15.7%, (seasonally adjusted) is almost twice the official U3 measure of 8.8%. On Thu, Apr 28, 2011 at 7:25 PM, Harry Pollard <[email protected]> wrote: Interesting, Arthur. I have been a critic of government statistics for a long time. It surprises me that (I think it was January) when US jobs increased by a tiny 37,000, the unemployed percentage dropped from 9.8% to 9.0%. I haven't heard the explanation for this - but probably never will (unless a Dissenter knows). Harry ****************************** Henry George School of Los Angeles Box 655 Tujunga CA 91042 (818) 352-4141 <tel:%28818%29%20352-4141> ****************************** From: [email protected] [mailto:[email protected]] On Behalf Of Arthur Cordell Sent: Thursday, April 28, 2011 7:54 AM To: 'RE-DESIGNING WORK, INCOME DISTRIBUTION, EDUCATION' Subject: [Futurework] 5 government statistics you can't trust - Business - Eye on the Economy - msnbc.com http://www.msnbc.msn.com/id/42599084/ns/business-eye_on_the_economy/ _______________________________________________ Futurework mailing list [email protected] https://lists.uwaterloo.ca/mailman/listinfo/futurework -- Sandwichman
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