Reports criticize FED job loss data presentation for USA in 2010
1 report, 1 independent
Updated Oct 10
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What happened
An independent report criticized a job loss chart released by the FED in June 2010 regarding the USA. The report noted that the Y-axis did not start at zero and the X-axis was not linear, failing to accurately represent quarters. Furthermore, the numbers displayed represented total unemployed persons imputed from the Bureau of Labor Statistics survey data, not quarterly job losses.
From scienceblogs.com
Why it matters
The FED relies on economic indicators published by the Bureau of Labor Statistics to inform its monetary policy. The critique suggests that the presentation of this data could undermine the credibility of the statistics used by the FED.
From scienceblogs.com
Who's involved
- FEDThe FED released the job loss chart for the USA.
- UsaThe USA is the nation whose job loss statistics were presented.
- Bureau of Labor StatisticsThe Bureau of Labor Statistics provided the underlying survey data used by the FED.