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Chet Ruminski Wrote:
Here is one of many reasons I consider BLS data as meaningless. From there informaion.
"Who is counted as employed?
People are considered employed if they did any work at all for pay or profit during the survey reference week. This includes all part-time and temporary work, as well as regular full-time, year-round employment. Individuals also are counted as employed if they have a job at which they did not work during the survey week, whether they were paid or not, because they were:"
Chet -- Thanks for sharing the BLS explanation of how the employment numbers are calculated:
Bureau of Labor Statistics, Labor Force Statistics from the Current Population Survey
There is a lot in the write-up from October, 2015 other than just the paragraph you cherry picked. It goes on to explain the BLS methodology for the various employment statistics including how they account for seasonal variations in employment and other factors such as labor force participation rates. It would take hours to go through not only the article but all the links. I certainly learned more in my browsing through it.
I have to say I appreciated their total transparency of how they do things along with links to their databases. The fact that the many professionals in the BLS have been doing this for almost 80 years (since 1940) without any party or presidential bias assures me that the numbers are as good as they can get.
However, no matter about the professionalism, I can certainly understand that facts and established accounting methods are no match for someone's "gut feel". People believe what they want to believe, and as Trump has indicated, "gut feel" will always trump sound engineering and accounting analyses for those so emotionally inclined to disbelieve.
"People are considered employed if they did any work at all for pay or profit during the survey reference week. "
There is nothing you can say or do to credentialize this into meaningful information. The system is not comprised to deal with abberational behavior influences on the economy. That is not a gut reaction. It is common sense. The current situation falls into an outlier classification. The walls are crumbling and you are supporting a system that can't see that.