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Gallup coming through with some big truths! But the ire should be directed primarily at the media, who compulsively deliver nonsense numbers as gospel without b
by standardUser 7y ago
Gallup coming through with some big truths! But the ire should be directed primarily at the media, who compulsively deliver nonsense numbers as gospel without background or explanation, almost implying that we would be stupid not to take them at face value.
Whereas Gallup seems to be attacking the federal government, and without mentioning the other metrics used by the US government to measure employment (there are at least 6 released by the Bureau of Labor Statistics).
I once read that the U-3 is used by the media because it compares best across different countries. Such that using the more meaningful U-5 or U-6 would make those comparisons invalid. Does anyone know if there is actually truth to that?
https://www.bls.gov/news.release/empsit.t15.htm https://www.bls.gov/news.release/empsit.t15.htm
- knubie 7y agoThe media probably only reports one statistic because all of the various labor statistics move in lock step. If the U-3 numbers go down the u-5 and 6 numbers go down at about the same rate.
- standardUser 7y agoRight, but the media has chosen one of the more favorable metrics, and one that flies in the face of what most people would assume constitutes "employment". That's fine, but shouldn't it come with a regular disclaimer that this idea of "unemployment" is way out of whack with what most people would consider legitimate?