Unemployment reporting is bogus: Losing fewer jobs equals a gain, right?

Bogus unemployment reporting

Seasonal adjustments may be erroneously calculated

Unemploymentreporting is always big news.

English: US Whig poster showing unemployment i...
English: US Whig poster showing unemployment in 1837 (Photo credit: Wikipedia)

This article calls into question the seasonal adjustments that the U.S. Bureau of Labor Statistics makes to the monthly jobs report. If those adjustments are incorrectly made, then the report — which is a monthly myopic view of the economy — is not terribly useful. Even worse, the entire scheme of unemployment reporting seems bogus to me. Continue reading “Unemployment reporting is bogus: Losing fewer jobs equals a gain, right?”