Quote:
Originally Posted by mookiemookie
Say's Law (supply creates its own demand) is very old and isn't particularly accurate.
Ok, you're COMPLETELY and TOTALLY off base here, and the reason why is elementary statistics. You cannot compare January 2012 and December 2011 figures. 2 million people did not drop out of the labor force. The difference in the figures here is due to the census adjustment.
Look at this chart and notice what happens every December:
See those dips? They're yearly population adjustments. You simply cannot compare January to December, since you're counting a YEAR's worth of population adjustment in those numbers.
This is even stated clearly in the actual BLS release of the data:
This isn't smoke and mirrors. You can't go on indefinitely without adjusting for population changes in your data.
As your central premise is based on faulty analysis, I didn't bother to read on. |
And what you failed to do Mookie is read on. Had you read the report itself in full (not my post), you would have noted the following:
Quote:
These individuals were not in the labor force,
wanted and were available for work, and had looked for a job sometime
in the prior 12 months. They were not counted as unemployed because
they had not searched for work in the 4 weeks preceding the survey.
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In other words - they took 2.8Million people "out of the pool" who wanted to be working - and just didn't count them. Don't look for a job for a month and your not counted as unemployed anymore? And you claim MY premise is faulty????
They are fudging the numbers - and you can choose to look at the data and see what it says, or you can stick your fingers in your ears, yell "LALALALALALALALALA" and ignore reality because its "anti-Obama". The choice is yours.