Skip to comments.The Strangest Number In Today's Jobs Number
Posted on 10/05/2012 2:02:45 PM PDT by Snuph
So somehow in September, in addition to all the other discrepancies in the labor report, we have one more to add: that of the Schrodinger Student: one who is both in college and piling up student loans on one hand, yet on the other hand entering the work force in the month of September, a time when historically every single month in recorded history has seen an exit from the labor force for the 20-24 year old cohort.
(Excerpt) Read more at zerohedge.com ...
I was slightly encouraged that some of the snarks relative to this obviously phoney number (like Jack Welch) are actually making it into the MSM.
In other news.. Mother Russia again has a record grain crop!
They used Occam’s Razor to slice and dice the numbers for the election.
The simplest explanation? fraud.....................
Obama is a freaking genius.
LOL...the Schrodinger Student
First time in history......(like a communist crypto-islamic at 1600)
Yes, I am an old fogey, but what is a Schrodinger Student?
Turnip production up for second five year plan in a row!
Number of left shoes produced out paces right shoe for
Zipper quantities soar, while zipper pull production
The chocolate ration has been increased from 30 grams per week to 25 grams per week.
It is a reference to Schrödinger's cat, a quantum physics thought experiment where the cat is simultaneously alive and dead until it is observed. This refers to students who are simultaneously in and out of the workforce, which might be the trick being pulled by the BLS to boost their employment numbers right before the election.
A lot of dirty business is hidden by how the BLS does their seasonal adjustments. More secret sauce than a political poll.
“Great news, comrade political officer! Eastern collectives are reporting a Sorghum production increase of thirty-two percent over the last fiscal period!”
What is sad is seeing people think that a change from just over 8% to 7.8% actually means something. That’s about a 4% change. The overall job picture is dismal, and a 4% change is not anything to crow about.
They should be using the more accurate U6 numbers, instead of the cooked U3 numbers:
I agree that: 1. The 7.8% is total contrivance, and 2: the hard numbers measure little real difference.
Having said that, some numbers and report benchmarks have psychological effects way out of proportion to their actual differences.
On any business's bottom line, there are only $0.03 on the balance sheet that differentiate a profit, breaking even and a loss. In academics, 1% can differentiate a passing from a failing grade.
The "big deal" with 8% unemployment is that it was a stated objective of the Obama administration, and if the 7.8% was a real number, Obama could credibly state that he had delivered on his promise to get unemployment below 8%.
Funny, abstract theorem. Again, U3 vs U6 data. Simmer it, cook it, boil it, BLS.
Personally, I am very shocked. Shocked that somebody would post an article about “the strangest number” and excerpt the article so severely I have no idea what that number is.
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