Tom Walker writes:
>>There isn't really a contradiction between saying the methodology is flawed and the numbers are misleading yet recognizing that the people who collect the data are honest and well-intentioned. <<
Tom, could you explain, specifically, what's methodologically flawed with the various U.S. BLS measures of the amount of "labor market slack" (unemployment, the size of the reserve army)? What phenomenon or phenomena would you like to have measured? how do the various BLS measures fail to gauge these phenomena? what systematic biases do you find? or do you reject measurement _per se_?
JD
