Definition of Employment Rate
Whatever your persuasion, this post describes why the highly-overused statistic "employment rate" is a poor indicator of economic level, since it's a relative ratio that cannot be measured aganst any other month. - it's pertinent only to that month as a relative inicator of employment. And, mathematically, the denominator changes each month (this is like my issue with baseball's OPS). Most importantly, the denominator is a guesstimate of the number of people that COULD be in the workforce.We need a better indicitator of employment and what it means to the overall economy.
Thanks to Angry Bear.
posted by jimboses @ 10:59 AM
0 Comments:
Post a Comment
<< Home