The New York Times (of all papers) published a piece about the unreliability of the seasonal adjustment of the July jobs report. The author of the article mistakenly contributed the statistical distortion to "economic turbulence" that has "disrupted the calibration" of the seasonal adjustments, but at least he reported the existence of bad data. And it appears that even market-cheering CNBC has bucked the trend and started reporting the truth about the economy: Better four years late than never, cnbc.com finally published an article about the U-6 unemployment rate, which includes the millions who work McJobs because they can't find better employment, as well as the "marginally attached". Of course, the reported numbers still don't reflect the true unemployment situation, as the Bureau of Lies and Subterfuge's methodology is bunk. But still. What's the weather like in Hell right now?
Thursday, August 2, 2012
Mainstream Media Actually Report Truth About Unemployment Rate?
It appears the MSM are finally waking up to the fact that the unemployment numbers we're fed from the Government are fudged to appear less awful.
The New York Times (of all papers) published a piece about the unreliability of the seasonal adjustment of the July jobs report. The author of the article mistakenly contributed the statistical distortion to "economic turbulence" that has "disrupted the calibration" of the seasonal adjustments, but at least he reported the existence of bad data. And it appears that even market-cheering CNBC has bucked the trend and started reporting the truth about the economy: Better four years late than never, cnbc.com finally published an article about the U-6 unemployment rate, which includes the millions who work McJobs because they can't find better employment, as well as the "marginally attached". Of course, the reported numbers still don't reflect the true unemployment situation, as the Bureau of Lies and Subterfuge's methodology is bunk. But still. What's the weather like in Hell right now?
The New York Times (of all papers) published a piece about the unreliability of the seasonal adjustment of the July jobs report. The author of the article mistakenly contributed the statistical distortion to "economic turbulence" that has "disrupted the calibration" of the seasonal adjustments, but at least he reported the existence of bad data. And it appears that even market-cheering CNBC has bucked the trend and started reporting the truth about the economy: Better four years late than never, cnbc.com finally published an article about the U-6 unemployment rate, which includes the millions who work McJobs because they can't find better employment, as well as the "marginally attached". Of course, the reported numbers still don't reflect the true unemployment situation, as the Bureau of Lies and Subterfuge's methodology is bunk. But still. What's the weather like in Hell right now?
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the "official" u-6 unemployment rate still undercounts underemployment because it only counts it in terms of hours worked. but, if you lost your job making $100K and are now making $30K working full time, you're still considered to be "fully employed".
ReplyDeleteGood point!
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