Thursday, May 2, 2013

Congress is Your Friend: No more unemployment data for U.S.

Congress is here to help you..  From Fortune: Bummed out by the latest unemployment or GDP report? Don't worry, Congress wants to help you out. Not by adding jobs or increasing productivity, but by eliminating the government surveys that help calculate such statistics in the first place.

It's called the Census Reform Act of 2013 (H.R. 1638), and would restrict the U.S. Census Bureau from conducting "any survey, sampling, or other questionnaire" outside of the decennial population census (which itself would receive new limitations).

So that means no more Current Population Survey, the voluntary questionnaire that underlies the monthly unemployment report published by the U.S. Bureau of Labor Statistics. Also no more Economic Census, the mandatory questionnaire sent out every five years to U.S. businesses which helps create a baseline for quarterly and annual GDP reports….

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