In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘US Bureau of Labor Statistics’

PHONY DATA: America’s “January Jobs” are Statistical Artifacts

Posted by seumasach on February 7, 2012

 Paul Craig Roberts
7th February, 2012
Last Friday the US Bureau of Labor Statistics reported that in the first month of this new year 243,000  jobs were created and the unemployment rate (U.3) fell to 8.3 percent.  This good news is a mirage. It is due to faulty seasonal adjustments and to the BLS birth/death model. In a prolonged downturn, seasonal adjustments and the birth/death model produce nonexistent employment. 

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