In response to:

Believe it – Employment Numbers Were Ginned

Phil424 Wrote: Oct 15, 2012 10:27 PM
COSTELLO: Wait, I got a question for you. That means there are two ways to bring down the unemployment number? ABBOTT: Two ways is correct. COSTELLO: Unemployment can go down if someone gets a job? ABBOTT: Correct. COSTELLO: And unemployment can also go down if you stop looking for a job? ABBOTT: Bingo. COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work. ABBOTT: Now you're thinking like an economist. COSTELLO: But I don't even know what I just said! ABBOTT: Now you're thinking like a politician.

A couple weeks ago, this column analyzed the inflation rate reported by the Bureau of Labor Statistics (BLS), and concluded that you should rely on your common sense when the government reports questionable statistics. If they don’t make sense based on what you see, experience, and hear from your friends, then they’re probably wrong. Last week’s unemployment number – which decreased to a still-dismal 7.8% – should not only make no sense to you, but should have never made sense to the BLS and therefore should never have been issued.

So am I just popping off or is there...