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The indexes usually aren't "constructed", PALFP is literally just calling people and asking them if they have a job and are between 18 and 65. There is some co
by astrange 2y ago
The indexes usually aren't "constructed", PALFP is literally just calling people and asking them if they have a job and are between 18 and 65.
There is some construction going on; seasonal adjustment is useful for the same reason you shouldn't assume the unemployment rate goes up every weekend.
- kubb 2y agoGDP, CPI, PPI, PMI, CCI... Not to mention that considering full employment as the desirable state assumes a certain ideology (work is good, low unemployment pushes wages up which is good, etc.).