Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘BLS’

BLS On Unemployment Figures: We Know We Were Wrong – We Were Just Kidding… Just Kidding!

Posted by Warm Southern Breeze on Sunday, June 7, 2020

If the workers who
were recorded
as
employed

but
absent from work

due to
“other reasons”
(over and above the number absent for other reasons in a typical May)
had been classified
as

unemployed on temporary layoff,
the overall unemployment rate
would have been

about
3 percentage points higher than reported
(on a not seasonally adjusted basis).

However,
according to usual practice,
the data from the household survey
are
accepted as recorded.

To maintain data integrity,
no ad hoc actions are taken
to reclassify survey responses.

Below is the full image of their addendum on the report “THE EMPLOYMENT SITUATION — MAY 2020,” which may be found on the BLS website as linked here.

The pertinent part is the final paragraph, which is pasted above, and appears in red.There you have it.

The United States Bureau of Labor Statistics has OFFICIALLY STATED that the Present Unemployment Rate is THREE POINTS HIGHER than officially stated.

They noted also that in the three preceding months of March, April, and May 2020, that responses to the monthly survey were down -9.5%, -12.6%, and -15.1% correspondingly to the month, from last year for the preceding 12 months, and averaged.

Th agency noted also that “BLS and our partners at the Census Bureau take the misclassification error very seriously, and we’re taking additional steps to address the problem.”

Part of the problem, as they note, is with classification.

In a lengthy explainer, the agency wrote that, “In May, 8.4 million workers were classified as employed with a job but not at work during the survey reference week (not seasonally adjusted). Although lower than the 11.5 million not at work in April, this measure remains about twice the typical level at this time of the year. This likely reflects the impact of the coronavirus pandemic.”

Their explanation of “with a job but not at work” is apparently integrated into the idea of going to a central, or common location to work (such as at an office building, or factory site), and of that they wrote in part that, “BLS tabulates data on Read the rest of this entry »

Posted in - Business... None of yours, - Did they REALLY say that?, - Lost In Space: TOTALLY Discombobulated, - Read 'em and weep: The Daily News, WTF | Tagged: , , , , , , , | 1 Comment »

Bureau of Labor Statistics Labor Force Participation Reports May 2014: Don’t Believe the “Spin”

Posted by Warm Southern Breeze on Sunday, June 8, 2014

This will be of interest to the curious, especially those who seek and search for the truth.

Asserting to cite data from the Bureau of Labor Statistics (BLS), CNS News recently reported that the Labor Force participation rate was at a 36-year low.
The headline to that story reads:
37.2%: Percentage Not in Labor Force Remains at 36-Year High
http://www.cnsnews.com/news/article/ali-meyer/372-percentage-not-labor-force-remains-36-year-high

Upon examination of the BLS website, the data was found to be honest and accurate.
http://data.bls.gov/timeseries/LNS11300000

Information on the data set presented is:
Data extracted on: June 8, 2014 (4:07:31 PM)
Labor Force Statistics from the Current Population Survey
Series ID: LNS11300000
Seasonally Adjusted
Series title: (Seas) Labor Force Participation Rate
Labor force status: Civilian labor force participation rate
Type of data: Percent or rate
Age: 16 years and over

Following is the chart as shown on the BLS website:

Chart from the Bureau of Labor Statistics of Labor Force Participation, Seasonally adjusted http://data.bls.gov/timeseries/LNS11300000

Chart #2: From the Bureau of Labor Statistics of Labor Force Participation, Seasonally adjusted http://data.bls.gov/timeseries/LNS11300000 Civilian Labor Force Participation Rate, age 16+

 

 

 

 

 

 

If the information is accurate – that is, if it accurately represents the thing it purports to represent – then there is a genuine cause for concern, perhaps even alarm. But first, sometimes, information has to pass the “smell test.” If it just doesn’t sound right, dig a little deeper.

However, there is a DEFINITE skew which, when considered, renders the interpretation of the findings questionable, at best.

Since there are TWO separate entities reporting the SAME information, how could it possibly be inaccurate, or incorrect?

Let’s consider further, to determine if such alarm might be genuinely warranted.

Searching for Labor Force Participation Rate datasets from Read the rest of this entry »

Posted in - Business... None of yours, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Rising Job Numbers: Will they Buoy the President’s re-election Chances?

Posted by Warm Southern Breeze on Saturday, March 10, 2012

Recently, the Obama administration has justifiably trumpeted news from the Department of Labor Statistics that hiring hiring by the private sector has increased significantly, and added 227,000 jobs in February while the national unemployment rate remained at 8.3 percent.

With 233,000 jobs added by private businesses, this marks the 24th consecutive month of private sector job growth. http://www.bls.gov/news.release/empsit.nr0.htm

This is good news for everyone, especially individuals, private households, the economy at large, small businesses, including Read the rest of this entry »

Posted in - Even MORE Uncategorized!, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , | Leave a Comment »

 
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