Monday, December 12, 2016

Personally, I think Rex Nutting's a commie, but he couldn't be more right about the fake news of "not in the labor force"

Rex Nutting is right. Our side has been trafficking in this piece of fake news for years, a factoid originating with Zero Hedge and endlessly repeated by the Goodyear blimp of gasbags Rush Limbaugh, touching all and sundry from Donald Trump on down to little known radio hosts on low power stations in Michigan like Steve Gruber in Lansing. Correct it try though you may, every attempt to stop it fails. It's embarrassing, not in the least because it exposes the endemic inability to think critically and the proclivity to believe in authorities which share your political opinions.

For all the good it will do, Rex Nutting goes once more unto the breach, here, with excellent links and a good graph, too:

There are a lot of “fake statistics” bandied about in service of some ideology or another, but I’d like to focus on just one example in which I have expertise from my work covering the monthly employment report over the past 20 years: The idea that there are 95 million Americans who are out of work but not counted as unemployed.

This statistic pervades the conservative discourse about our economy (or at least until Jan. 20). The implication of this statistic is that the government and media are lying to us. Instead of an economy that’s slowly improving as President Barack Obama has been telling us, our economy is actually a catastrophic failure, unable to provide any work for nearly 100 million people. ...

This is the perfect fake statistic, because it’s absolutely true. And completely meaningless.