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Mario Sikorski
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Post subject: Government Labor Statistics: Lies and Damned Lies Posted: 06 Feb 2010, 9:47 pm |
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Joined: 29 Jan 2008, 6:06 pm Posts: 715
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Government Labor Statistics: Lies and Damned Liesdlindorff wrote: Thu, 02/04/2010 - 15:24
For months, the various government departments dealing with things economic--Treasury, Commerce, Labor and of course the Council of Economic Advisers and the Federal Reserve, have been issuing soothing words that the nation’s economy is headed back up from the Great Recession that allegedly began in December 2007.
But now comes word from the Department of Labor that, whoops, we minsunderestimated, as former President George W. Bush would say, the number of jobs lost. The Department of Labor’s Bureau of Labor Statistics is reporting that because of a “modeling error,” it misstated the number of jobs lost between March 2008 and March 2009 by 17%. In hard numbers, that is to say, the BLS was reporting that a record 4.8 million jobs were lost during those 12 months of economic collapse, when in fact the job loss total was actually 5.6 million. Source: http://www.thiscantbehappening.net/
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