Lies, Damn Lies and Government Statistics

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CrossingWallStreet.com: Lies, Damn Lies and Government Statistics

For example, when the government tells us how many jobs were created or lost last month, it’s really just an estimate—and a very broad estimate at that. The most recent report said that 134,000 jobs were lost during February, but the Bureau of Labor Statistics really only says that it’s 90% confidence that actual number was somewhere between a loss of 500,000 and a gain of 200,000. That’s an enormous spread.

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