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July 30, 2008
That's some fine police work, Lou
Our local dog trainer photocopied an AP story, including these snippets: Louisiana has lost nearly 16,000 jobs since China entered the World Trade Organization in 2001 ... Well, everyone knows how biased the Bureau of Labor Statistics is, but here are their numbers: In 2000, LA total nonfarm jobs (NSA) was 1917.7k, in '06 it was 1853.2k, in '07 it was 1920.6k, and in June '08 it was 1950.9k. Total private workers in LA? In 2001 it was 1541.6k and in June '08 it was 1586.2k. So, In the US in 2000, 131.8m total nonfarm jobs, and in June '08 138.6m jobs. The total private numbers are 111m and 116.2m. So, I guess even the AP doesn't feel compelled to double-check these things. Wait, I guess I left out a relevant section of the news article: That's according to a study released by the Alliance for American Manufacturing, which blames the loss on the U.S. trade deficit with China. One of these days I'm going to get Congress to force Papa John's Pizza to pay me restitution, because I have a huge trade deficit with them. Posted by Tim Shaughnessy at 06:13 PM in Economics
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The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith
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