re: 12 hours until December unemployment and jobs reports - guesses?

quote:

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Yah but the unemployment dropped 20% and the LPR only dropped 2%!!!

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To be fair his numbers are right, but incredibly misleading as they cannot be compared side by side as Participation is a component of U3.

He's using percent difference of the percentage points, which is odd.

((Initial-current)/Initial)*100

((10-7)/10) * 100 = 30 percent difference between 10% and 7%

((65.5-62.7)/65.5) * 100 = 4.27 percent difference between 65.5 and 62.7

The major issue is that the numbers aren't comparable as a lowered PR will necessarily result in lower U3 as a part of the calculation. So I agree that his number use is poor and misleading, as he tried to make these stats lie. However the numbers he used aren't wrong.