Monday, May 10, 2010

Questionable Job Numbers

Be careful of monthly job announcements. They often have little to do with reality, as I have often noted here.

The media emphasis usually places a spin on what you are supposed to make of the raw figures, depending on which political party they favor.

For the perfect illustration of this, you have the Obama administration’s creation of the “jobs saved” number to report. When actual “job lost” numbers are the norm. Jobs saved were merely estimates of the “coulda, shoulda, and if” variety, that could not be truly measured.

It was a brilliant concept because such figures cannot be proven wrong and are believable if you are dumb enough to take them as statistically bonafide.

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