We all know that the Feds have jiggered "unemployment" rates for a long time--at least partially by creating a "birth/death" factor which purports to measure 'new jobs created' against 'old jobs deleted.' Of course, the 'new jobs created' number is pulled out of thin air, because the statis-geeks make assumptions about 'new businesses started' before such businesses can be identified, much less measured.
There are other 'jiggers,' and they are bi-partisan in genesis.
Oh, well.
Another thought: look at line U-6 on this report.
Therein, you will find BLS' genuinely UGLY number:
...12.2%, up 1.1% since last month and 4.1% in the last 12 months, or a rise of 50% (!)
This is all unemployed plus all "marginally attached" workers (those working part-time who would like a full-time job, as a percentage.
This, the "non-adjusted" number, is the actual unemployment rate as reported before the BLS (government) started dicking with the numbers, and best matches unemployment as reported in, oh, the 1930s.
Genuine ugly.
HT: MarketTicker
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment