Wednesday, January 06, 2016

With A Straight Face, US Government "Finds" Number Of Retiring 20-24 Year-Olds Has Doubled

Here's Bloomberg's summary of what the bureau found, broadly: Thirty-five percent of the U.S. population wasn't in the labor force in 2014, up from 31.3 percent a decade earlier. (You're considered out of the workforce if you don't have a job and aren't looking for one. That's distinct from the official unemployment rate, which tracks those out of work who are actively job hunting.)
Drilling down into the numbers reveals more about the shifts in the reasons some people forego a paycheck. In all age groups, for instance, more people cited retirement as the reason for being out of the labor force, and it wasn't just older people.
So far so good: who knows if this is true or not, but since it is a "scientific" study it probably can be replicated. Unfortunately, not in this case, because here was the punchline:
For Americans between the ages of 20 and 24, the share of those sidelined over the past decade because they were in school increased, unsurprisingly, during the decade that included the Great Recession. What's more unusual is that the share of 20- to 24-year-olds who say they're retired doubled from 2004 to 2014.

At this point we stopped reading for one simple reason: the fact that a "scientific" study can "find" that the number of 20-24 who have retired has doubled, shows that those conducting said experiment were simply said lunatics who had set up their experiment and null hypothesis incorrectly, had asked all the wrong questions, and worst of all, given themselves a "sanity check" and passed with flying colors despite something as glaring as this "finding."
Article here:

Jim Karger

 "All that is necessary for the triumph of evil is that good men do nothing."
- Edmund Burke

Sent from my I-Pad


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