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Old 07-29-2017, 05:49 AM
 
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Originally Posted by Geneyus View Post
The Obama administration used a similar method to claim unemployment was down. They didn't count people who were working part-time or stopped looking for work (after not finding full-time employment) as unemployed. It's all about skewing the numbers.
As was already noted, neither of those things happened. The methodology for calculating the unemployment rate from the Current Population Survey was not altered by BLS in any significant way during the Obama years.

Next time some dishonest or disinformed person tries to pass such a notion off onto you, consider that no one has a greater need for accurate economic data than the policy-makers responsible for economic fine-tuning. Their interests are in assuring that the data are as good as they possibly can be.
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Old 07-29-2017, 10:14 AM
 
Location: Florida
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What is the median income in Italy? It is simple supply and demand.
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Old 07-30-2017, 06:49 AM
 
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There is no such thing as simple supply and demand. What Econ 101 often fails to teach students is that all those lovely graphs are based on large numbers of simplifying assumptions that help illustrate an actual concept, but also disconnect it from the real world.

For what it's worth, OECD data put average household net adjusted disposable per capita income in Italy at just above $25,000 while that in the US is put at just above $41,000.
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Old 07-31-2017, 10:29 PM
 
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This confirms that is definitely rough out here right now with people trying to survive.
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Old 07-31-2017, 10:32 PM
 
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Quote:
Originally Posted by Geneyus View Post
The Obama administration used a similar method to claim unemployment was down. They didn't count people who were working part-time or stopped looking for work (after not finding full-time employment) as unemployed. It's all about skewing the numbers.
Exactly and the news anchors would report those numbers like it was the actual truth when most people knew only the people receiving UC were counted.
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Old 08-01-2017, 06:40 AM
 
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Quote:
Originally Posted by moneymkt View Post
Exactly and the news anchors would report those numbers like it was the actual truth when most people knew only the people receiving UC were counted.
Try again. The number of people receiving unemployment benefits is used as part of a biennial process of developing new seasonal adjustment factors for unemployment data. The UI numbers are not taken into any other account with regard to the unemployment rate which is actually developed from responses to the Current Population Survey administered to more than 60,000 US households each month during the week in which the 12th of that month happens to fall. The entire process was developed and is carried out by those who by training and experience have become leading authorities on the socio-economic data and methods that are involved in the process.
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