Tags: job | economy | employment | labor

'Phantom' Job Losses Make April Jobs Report Look Weaker Than It Should

By    |   Friday, 08 May 2015 10:30 AM

Unemployment was unchanged at 5.4 percent in April. Without the manipulation government economists rely on for their reports, the unemployment rate would have been 5.1 percent.

Government manipulators increased the unemployment rate by ignoring 729,000 jobs that were created in April.

Seasonal adjustments generally increase the number of jobs reported in the monthly employment report. Economists seasonally adjust data to eliminate large swings in the monthly report. For example, in June there will be a number of summer jobs created. A seasonal adjustment keeps this wave of temporary workers from pushing the unemployment rate lower than it should be.

By surveying households, in April, the Bureau of Labor Statistics found that 952,000 jobs were created.

Many of those jobs were in the construction industry and were the result of seasonal layoffs caused by bad weather in March ending. Rather than report the weather-related large gain in construction and other sectors, BLS lowered the number of new jobs to 223,000 with a seasonal adjustment.

Some reporters use the seasonal adjustments to claim the data is being manipulated. For the mathematically inclined, the details of the adjustments process are available at the BLS web site. The math is fully disclosed in advance. The unadjusted data is provided and anyone can duplicate the results of the BLS process.

We might not agree with the BLS process but it is designed for accuracy. It’s disclosed in advance and it’s mathematically sound. And, in April, it resulted in the unemployment rate being 5.4 percent instead of 5.1 percent.




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MichaelCarr
Unemployment was unchanged at 5.4 percent in April. Without the manipulation government economists rely on for their reports, the unemployment rate would have been 5.1 percent. Government manipulators increased the unemployment rate by ignoring 729,000 jobs that were created in April.
job, economy, employment, labor
253
2015-30-08
Friday, 08 May 2015 10:30 AM
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