Tuesday, December 28, 2010

US Economy CSI

BLS has changed how it measures long term unemployment to capture part of the depth of the current US depression. The Current Population Survey will increase the unemployment upper limit from two years to five years for computational purposes. This change will give statisticians better ability to calculate long term unemployment in the "new normal" economy.

The government will need better statistics in order to explain to the american people why their standard of living is in full decline. And why taxes must go up to support those millions of under and unemployed americans who live on the margins of society.

No one has a clue how to fix the broken global economy but you can rest assured that statisticians will find better methods of documenting the unfolding horror.


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