Comments on: Big Drop In Unemployment Rate, Though Only 114,000 New Jobs

By: Bill Barnes

Bill Barnes — Fri, 02 Nov 2012 19:40:14 +0000

This only means that a lot of people’s unemployment benefits just ran out. I imagine that for the period since 2008 – if you compare drops in unemployment to home foreclosures, adjusting for the time-lag involved in a foreclosure, you could create matching line charts.

By: Howard Adamsky

Howard Adamsky — Sun, 07 Oct 2012 17:23:45 +0000

Martin:
I am not delegitimizing the BLS. I am simply very suspect of this information. Surely just as we learned that no business is too big to fail, we must now see that no institution is above careful and definitive examination. It is not as it appears; I am not a Repub who sees the numbers as out of alignment and therefore says it is a lie. I am simply astonished at the timing of this event.
I am also not sure of the intent or the insight Welsh has but if Obama can make this country hum as Welsh did with GE back in the day, I will certainly be the first to give him all of the credit he deserves.
So let me say what needs to be said. If Obama spends the next 4 years getting the results he got in the last 4 years, can you even imagine the human toll and catastrophe that the Repubs will inherit in 2016? Can you imagine them also failing and the blame game goes on and on? I do not care about either party or either set of beliefs. I see my country diminishing and as an over the top jingoist, if it is possible to fix it, I want that to be done.

By: Martin Snyder

Martin Snyder — Sun, 07 Oct 2012 14:58:34 +0000

Howard like anything, there needs to be balance. Of course numbers (facts in general) need to be carefully vetted and well understood.

I find the timing of this sudden interest/concern in integrity of the BLS at least as suspicious as the timing of the 7.8% finding.

For all these lo many years, the exact methods have been fine, as imperfect as they are, for all sides. Thats what the Wall Street Journal reported.

Again, the blithe delegitimizing of the BLS stands directly in line with ANY reality that the right does not find politically suitable, and it’s a reckless, dangerous thing to do. Jack Welch will pay in reputation for years for doing it- regardless of which side wins Nov 6.

And of the unelected rich, corrupt, and detached? A bigger issue ?

By: Howard Adamsky

Howard Adamsky — Sun, 07 Oct 2012 03:20:07 +0000

Hello Martin:

As a country, we are becoming less governable because those who we elect are rich, corrupt, detached and at war with one another.

On another note, questioning numbers will not sink our country but failing to do will almost certainly not do any of us any good. I do not accept the numbers I do not like. I question all of the numbers. Surely you see the poor judgment of simply accepting the numbers as gospel.

By: Martin Snyder

Martin Snyder — Sun, 07 Oct 2012 00:49:56 +0000

Howard a blithe willingness to delegitimize the government (the BLS in this case) helps make the nation less governable.

Jack Welch just damaged his reputation for doing so….political opposition is one thing, but believing the numbers when you like them and knocking them when you don’t is another, and hoping for bad things to happen to the nation so your side can gain power is yet another thing….

By: Howard Adamsky

Howard Adamsky — Sat, 06 Oct 2012 21:03:42 +0000

Hello Martin:

I never express my political views here.

I simply do not believe a word of it.

Crushing debate and a few days later, the UL falls. You know what they say about numbers Martin. We will never know but I simply do not believe it.

By: Martin Snyder

Martin Snyder — Sat, 06 Oct 2012 20:17:49 +0000

Howard is that bridge for sale because the data does not fit your political views? Does the WSJ work, or do you only take your information from party outlets ?

/blogs.wsj.com/economics/2012/10/05/impossible-to-manipulate-labor-survey-data-former-bls-head/

By: Howard Adamsky

Howard Adamsky — Sat, 06 Oct 2012 03:51:00 +0000

Yes, the other way is to massage the numbers until they bleed.

If you think the UE really went down, I have a bridge to sell you. Call fast for best price.

By: Keith Halperin

Keith Halperin — Fri, 05 Oct 2012 21:41:11 +0000

Hmmm. Seems like there arelots of a couple of ways to lower the UE rate without actually creating FT jobs.
1) Get lots of people to give up looking (like last month).
2) Get lots of people to take PT work, even though they’d prefer FT work (this month).

Cheers,
Keith