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The numbers weren't seasonally adjusted, according to the article, while "Figures for California fast-food restaurants from the Federal Reserve Bank of St. Loui
by MilnerRoute 2y ago
The numbers weren't seasonally adjusted, according to the article, while "Figures for California fast-food restaurants from the Federal Reserve Bank of St. Louis show that on a seasonally adjusted basis, employment actually rose in the September-to-January period by 6,335 jobs, from 736,160 to 742,495."
"The author of the Wall Street Journal article, Heather Haddon, didn’t reply to my inquiry about why she appeared to use non-seasonally adjusted figures when the adjusted figures were more appropriate."
Now in this new article, a UCLA economics professor who'd originally pushed the "job loss" claims even "acknowledged by email that 'if the data are not seasonally adjusted, then no conclusions can be drawn...'"