Saturday, February 11, 2012
Unemployment data seems to be based on the number of new applications for unemployment insurance, and not on the total number of people unemployed and either looking for work, or not looking for work. There doesn't seem to be any accurate data around for how many people are actually unemployed. So any presentation of this lack of data seems useless.
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Your post: "Unemployment data seems to be based...". You are referring to the ADP National Employment Report, released monthly (usually on Wednesday). My blog utilizes BLS data (Bureau of Labor Statistics Employment Situation Report). As to the word "seems", recall what Hamlet so pithily says to his Mother, Gertrude Queen of Denmark (Hamlet, Act 1, Scene2): "Seems, madam! nay it is; I know not 'seems.'"
ReplyDeleteTo the contrary of your statement: "...There doesn't seem to be any accurate data around...", there are great volumes of accurate data available on unemployment and more, from the BLS report and others. The problem actually is that there is too much data (Terra-bytes of it per day on the Cloud) to be digested without the help of analysis & charts & graphs.