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Wednesday, Jun 28th

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You are here News Editorials Prairie2: Numbers are just a Theory

Prairie2: Numbers are just a Theory

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Juggling numbersThe Numbers Deniers claim that the unemployment rate dropping below 8% is a vast government conspiracy orchestrated by the Muslim-Keyan-socialist-liberal-anti colonial-fascist in the White House. Their proof, the report was created using Arab 'numerals', we all know that real Americans would use Chinese made 'numerals' bought at Walmart.

To understand what is really going on requires some background, the initial jobs reports that come out each month are based on surveys, and are revised later as more data comes in. The job creation number is based on an employer sampling survey, and this number can be way off
from reality if the growth or decline is concentrated in a particular area.

The un-employment rate is based on the Household Survey that gives a much broader number. The right is claiming the rate only dropped below 8% because millions of people have given up looking for work.

 

They are either lying, or didn't even look at the data (the moral equivalent of lying). The survey shows that 873,000 people found work in the past month, an eight-fold difference from the corporate dominated employer survey. Adjusted for past seasonal hiring trends, the BLS put the number at 294,000. This is still nearly 3 times the employer reported number.

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