Read more here:The Real Story on Workforce Numbers: No Change?
In other words, the participation rate (employment-population ratio)
was reported to have dropped by 0.3%, exactly the amount of participation rate
“drop” created by changing the population number used in the calculation (due to
updated census data.) Without this once-a-decade adjustment, the change in
participation rate would have been reported as…wait for it…zero.
Tuesday, February 7, 2012
The Real Story on Workforce Numbers: No Change?
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1 comment:
It's actually worse. The unemployment figures are calculated from a small statistical sample of 60,000 households.
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