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One argument I've seen is that although BLS provides many metrics, they consciously avoid several useful metrics that paint a realistic but negative picture of
by nkurz 10y ago
One argument I've seen is that although BLS provides many metrics, they consciously avoid several useful metrics that paint a realistic but negative picture of the economy. If I understand it, one big complaint is that "long term discouraged workers" are dropped from U6, and BLS does not publish a metric showing total labor force participation. I don't know enough about the details to assess know if this is true, but I thought this piece seemed like an objective criticism: http://www.shadowstats.com/article/c810x.pdf http://www.shadowstats.com/article/c810x.pdf
- mikeash 10y agoThat seems like a fair criticism. But at the same time, as long as they don't pretend that the numbers say more than they do, I don't see a big problem with them.