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The mandate of the fed should be changed to correct for the data problems evident here. The "easiest" way to increase (inverse) metrics is always to move peopl
by 001sky 12y ago
The mandate of the fed should be changed to correct for the data problems evident here.
The "easiest" way to increase (inverse) metrics is always to move people from the measured bucket (unemployed) to the not-measured one (non-participating).
If we shift inflation from assets < 1 year life to those of longer duration, we can manipulate that metric pretty well too.
Until composite metrics are better disseminated and understood, these things will remain underlying problems.
- BobCat 12y agoThe statistic that should be used is full time job equivalents over the preceding year - any other statistic can be misused, but actual hours worked is pretty reliably determined and increases and decreases have real meaning.
- raldi 12y agoReposting dead reply from BobCat: > The statistic that should be used is full time job equivalents over the preceding year - any other statistic can be misused, but actual hours worked is pretty reliably determined and increases and decreases have real meaning.
- BobCat 12y agoWhat's a dead reply? I wandered afk for a while and bing! there you are! Also I see my post below.