lies, damned lies, and statistics

“There are three kinds of lies: lies, damned lies, and statistics.”

On Thursday (Feb 2) Obama was all over the media claiming US employment was **UP** 243,000 jobs in January, while actual survey data shows a **LOSS** of 2.7 million jobs.

What went up? A “seasonally adjusted”, moving-average-style trend line – NOT ACTUAL JOBS.

TRUTH: despite recent (hopefully) seasonal job losses, employment OVER THE LAST 24 MONTHS is still slowly TRENDING upwards.

BULLSHIT: the economy created 243,000 jobs in January.

But which one sounds oh-so-much better when you’re in front of all those cameras in an election year?

Source: Lee Adler at http://wallstreetexaminer.com/2012/02/03/deconstructing-the-massive-beat-in-employment-data/

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