March 9, 2010

Obama, Summers and Statistics

[From article]
"Larry Summers went on CNBC and -- unchallenged by any of its journalists -- said that past blizzards had caused the government to report a monthly loss of 100,000 to 200,000 jobs.

Well, Wall Street figured Summers actually knew what he was talking about, although it would have been the first time.
[. . .]
And President Obama figured he'd side with Summers by claiming that the snowstorms "had a depressing effect" on the jobs figures.
[. . .]
"workers who received pay for any part of the [survey's] pay period, even one hour, are counted in the February payroll employment figures."
[. . .]
Now the Labor Department said workers are considered employed even if they get an hour's pay."



http://www.nypost.com/p/news/business/how_the_labor_dept_finessed_the_9STHSqpxzmt9O3SzFuC5KP

How the Labor Dept. finessed the jobs report
New York Post
Last Updated: 9:41 AM, March 9, 2010
Posted: 1:49 AM, March 9, 2010
John Crudele

No comments: