Employment Stats Misleading

The payroll jobs report for November from the Bureau of Labor Statistics says that the US economy created 203,000 jobs in November. As it takes about 130,000 new jobs each month to keep up with population growth, if the payroll report is correct, then most of the new jobs would have been used up keeping the unemployment rate constant for the growth in the population of working age persons, and about 70,000 of the jobs would have slightly reduced the rate of unemployment.

The No Jobs Economy is the New Economy

One of my most popular columns was about escaping from the Matrix existence in which Americans live.  It is a world of disinformation and misinformation in which facts are fiction, and abstract theories are substituted for empirical reality.

Official government statistics are make-believe.  The government makes inflation and unemployment disappear by how it defines inflation and unemployment, and it makes the economy grow by how it defines Gross Domestic Product.  The definitional basis determines the statistical result.

How Many People are Poor in the United States?

It seems the entire world has been confused by the Census and understandable so. This past week saw dueling quotes on the number of people in poverty in the press. There are actually two major measures of poverty for 2010 and the experimental, research measure was released this week. This supplemental poverty measure shows there are more people in poverty, 49.1 million, than the official tally, 46.2 million.

Some Ridiculous Statistics At A Glance

Welcome to the concentrated boiling up of economic graph-o-rama absurdity and horror in number form. Every week, economic data pours in and some damning statistics go flying by with nary a nod.


Financial Crime Prosecutions

Syracuse University, through their Transactional Records Access Clearinghouse, analyzed Justice department data. They found the number of prosecutions for financial fraud is dramatically down, 28.6%, from just five years ago.

I Like Statistics and So Should You

statistically significantFunny title for an article. Numbers, statistics, stats....those boring people with their spreadsheets, graphs, always showing you up at a party in a game of Trivial pursuit.

Facts! Who needs 'em! Uh, we do. A very obscure thing is happening in Washington D.C. All of those dusty agencies with their legions of geeks and geekettes, cranking through numbers and collecting data are under attack.

Here are some of the statistical and science programs far the BEA has not been cut, but the Census was, by -$6.2 billion. This is before the infamous super Congress was created to cut much more out of the budget.

As a result the Statistical Abstract is about to go bye-bye. People are speaking out trying to save this treasure trove of data. According to this op-ed requesting America save the statistical abstract:

The agency’s 2012 budget would eliminate the Statistical Compendia Branch, which compiles the Stat Abstract and other publications (example: the “County and City Data Book”). The cut: $2.9 million and 24 jobs. Both the book and online versions of the Stat Abstract would vanish. This is a mighty big loss for a mighty small saving.