U.S. employment recorded a second straight month of solid gains in March and the jobless rate fell to a two-year low of 8.8 percent, marking a decisive shift in the labor market that should help to underpin the economic recovery.
God has saved a special place in hell for all the MSM employees who over the decades have misled the American people into spectacular levels of ignorance.
Filed under "The cancer is spreading less slowly."
9 comments:
I read that headline on drudge. I smelled fish. Glad to see you are so quick debunking this sort of crap, Cap.
I apologize for my ignorance, but what is the 'Civilian Participation Rate'? Is that something to do with the number of people employed?
Please ignore my last comment. I 'googled' it :).
You might like this article, Cap.
http://mises.org/daily/5171/Whats-a-Job-Good-For
You hit that nail on the head! I think if I hear one more time on CNBC, how on the recession is over, I may throw up.
All these government numbers are fudged; CPI, Unemployment, debt levels, the list goes on and on.
The media are just a bunch of government lap dogs.
My question still remains.
Exactly how much mass/inertia/momentum does an economic indicator possess?
What in the world makes them think that two months of gains (regardless of how small they may be in the big picture) indicate in any way that the trend will continue?
6-8 months of solid gains indicates a trend. Two months could, and probably is, nothing more then various construction seasons starting up across the nation.
Forget the Feds, go to Gallup:
http://www.gallup.com/poll/125639/Gallup-Daily-Workforce.aspx
Cap is correct.
Stats appear to be noise - like rearranging the deck cahirs on the Titanis.
less quickly. more slowly.
Did anyone go to the trouble of multiplying those two numbers together? If I understand correctly (a big "if), that is the interesting statistic: how many people have jobs.
-PeteE
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