It’s Crap. I Say It’s Crap, and I Say to Hell With It!
Bill Quick

An October surprise | Power Line

So how did the Department of Labor come up with an unemployment rate that indicates significant improvement in the jobs picture? It found the alleged improvement through its survey of households. As Hassett explains, the Labor Department’s jobs report is always based on two surveys, one of households and one of establishments.

Professional economists and the press usually emphasize the establishment survey because it is considered less volatile. This month, that survey continues to show the usual weakness in the job market. But the household survey purports to show massive improvement.

Hassett says that during the Bush presidency, the MSM discounted the household survey whenever it revealed good news, claiming that the numbers are suspect. I find the latest household survey numbers — coming just before the climax of this election and contradicting more reliable data — to be suspect, indeed.

Charlie Martin thinks we’re all conspiracy freaks, (sorry, Charlie), but this “jobs report” is twice-cooked crap designed to buoy Obama, and nothing more.

And frankly, when push comes to shove, I’ll generally take Jack Welch’s economic opinions over Charlie’s almost all of the time – especially when I find Welch and myself in agreement, heh.

UPDATE:  The right-wing conspiracy freaks at The Economist agree with me: Economist: Unemployment drop ‘implausible … a statistical quirk’ | AEIdeas

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Bill Quick

About Bill Quick

I am a small-l libertarian. My primary concern is to increase individual liberty as much as possible in the face of statist efforts to restrict it from both the right and the left. If I had to sum up my beliefs as concisely as possible, I would say, "Stay out of my wallet and my bedroom," "your liberty stops at my nose," and "don't tread on me." I will believe that things are taking a turn for the better in America when married gays are able to, and do, maintain large arsenals of automatic weapons, and tax collectors are, and do, not.

Comments

It’s Crap. I Say It’s Crap, and I Say to Hell With It! — 1 Comment

  1. Melinda Romanoff in the JustOneMinute comments points out how BLS gets its unemployment stats via the Census office, an agencty conveniently relocated to the White House in Feb. ’09 by a former Chicago ballerina.

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