Friday, October 05, 2012

Jack Welch Oughta Know About Numbers Manipulation

Anyone who paid attention to GE's financials during the Welch regime noticed that all the numbers were on a smooth upward curve.  Almost no 'hitches' or 'woopsies'.

Some suspected that perhaps, just perhaps, those numbers were carefully managed.

So when Welch says that perhaps, just perhaps, the DOL unemployment numbers were managed, we should pay attention.

It is hard to believe that the U-rate dropped by that much in a month.  On the other hand, it is what it is.

What IS noteworthy--and what is problematic--is this:

The labor force participation rate, which reflects those working as well as looking for work, edged higher to 63.6 percent but remained around 30-year lows. 

The level of part-time workers reported the largest jump for the month, gaining 582,000.

That's the Christmas retail rush, just beginning.  And that's not exactly Great News.  Good, maybe.  Great?



...The fact remains that one year ago when we had 9% unemployment, we actually had 2,680,000 more Americans in the labor force.  Essentially, that means that over 2.5 million workers have given up looking for work since last year.  If we break it down by gender, that’s 711,000 men who have exited the workforce and, amazingly, over 1.9 million women who have exited the workforce, according to the Bureau of Labor Statistics....

It's called 'the numerator-drop' for you math-challenged types.


Jim said...

BLS already adjusts for the holiday rush. Otherwise new jobs would have been higher.

Dad29 said...


The Obozo Recovery is composed of McJobs!!