A Spin on Employment

Posted on February 9, 2012


The Obama Administration has been under attack for the last few months as the Republican Nomination train sweeps the country. In December Fox News published unemployment rates, displayed in a skewed chart, showing the current seasonally adjusted unemployment rate, 8.6 percent, as higher than past unemployment rates. In reality, whether skewed or not, these numbers just inform us of the number of people out of work. Inflections within a few percents don’t help to predict future economic performance or the current regime, because unemployment is relative to the global economy. The first chart is from Fox, the second is my graph of the last year of unemployment using Fox’s data, and the third shows you how the U.S. economy is doing relative to a few countries that I selected from World Bank Data.

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