Source: Critically Thinking Substack
One of the most monitored of all U.S. statistics — and one frequently used for the most political gain — is the Unemployment Rate. It sounds simple enough (and actually should be) but when bureaucrats and politicians got their hands on it, it’s merely a shadow of itself.
In his most recent work, John Droz Jr. takes a look at how deceptive the Unemployment Rate can be, falling in line with Mark Twain’s theory on the subject of “lies, damned lies and statistics.”
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