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
Chart #1: From CNS News (Cybercast News Service) http://www.cnsnews.com/news/article/ali-meyer/372-percentage-not-labor-force-remains-36-year-high referencing data from the United States Bureau of Labor Statistics – (Civilian Labor Force Participation Rate)
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 #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 »
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