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Chart of the Day: A Tale of Two Government Unemployment Surveys

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Chart of the Day: A Tale of Two Government Unemployment Surveys

Post by gigichicago on Fri May 06, 2011 6:49 pm

How many surveys do we need to tell our government that the unemployed are hurting?


http://www.theatlantic.com/business/archive/2011/05/chart-of-the-day-a-tale-of-two-government-unemployment-surveys/238506/

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Re: Chart of the Day: A Tale of Two Government Unemployment Surveys

Post by Phillymg on Fri May 06, 2011 8:19 pm

Lol these pseudo-economists have no end of fancy charts they can whip together.

That guy leaves out certain groups & uses some non-seasonally adjusted figures.....then compares them to the seasonally adjusted U3 & VOILA.....he gets the result he wants.

But he doesn't because if you look at his chart there are still times when the two sets of data (U3 & Nonfarm Payrolls) vary wildly.

Someone *PAID* that guy to write that piece of crap??

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Re: Chart of the Day: A Tale of Two Government Unemployment Surveys

Post by gigichicago on Fri May 06, 2011 9:01 pm

Phillymg wrote:Lol these pseudo-economists have no end of fancy charts they can whip together.

That guy leaves out certain groups & uses some non-seasonally adjusted figures.....then compares them to the seasonally adjusted U3 & VOILA.....he gets the result he wants.

But he doesn't because if you look at his chart there are still times when the two sets of data (U3 & Nonfarm Payrolls) vary wildly.

Someone *PAID* that guy to write that piece of crap??

You think someone in Washington paid him?
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Re: Chart of the Day: A Tale of Two Government Unemployment Surveys

Post by Phillymg on Fri May 06, 2011 9:43 pm

No. He was paid by 'The Atlantic Monthly' magazine. Also his bio states that he's a Wall Street investment bankster. Did you see the movie 'Inside Job'?? It talks about how most of the economists are bought & paid for by the big corporations & the banks.

Wall Street absolutely does not want anyone to pay attention to the 9% U3 rate because that might create *uncertainty* in the economy. They want consumers to keep buying & investors to keep investing. The corporations want the same plus they don't want anyone telling them they should hire more American workers.

Thus the spin of this ridiculous chart trying to convince people that the 9% U3 rate doesn't mean anything. Which happens to make the White House also happy.

The ones who aren't happy are the 25 million unemployed & underemployed workers of America.

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Re: Chart of the Day: A Tale of Two Government Unemployment Surveys

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