Wednesday, July 13, 2016

Labor Department Job Numbers Might As Well Come From A Lottery

Here is how the monthly employment figures should actually be done. 
“I’m Yolanda Vega. And June’s first number is 2. The next number is 8. The next number is 7…”
The Labor Department should get itself one of those Lotto cages with the white ping-pong balls inside. And then it should have Yolanda and her “draw team” colleagues pick the numbers randomly. 
That would be much more logical and cost efficient than how Labor — with its billion-dollar budget — now does its monthly employment survey. And it would probably produce a more accurate reading of what the economy.
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