Following up on an earlier posting about the Obama Administration’s “jobs created or saved” metric, I’d like to call attention to Greg Mankiw’s posting from yesterday entitled “The CEA’s Impossible Job”. I also learned the following Latin phrase from this article: Post hoc ergo propter hoc.
Also, the following two postings about the Obama Administration’s “jobs created or saved” metric which date back to November 2009 are worth a second look:
- In the Battle for Stimulus Jobs, Shoe Store Owner Tells War Story, by Louise Radnofsky (published November 2, 2009
Here’s a practical, step-by-step guide to “creating or saving” 9 jobs for only $889!
- Stimulus and the Jobless Recovery, by Ed Lazear (published November 1, 2009)
“Jobs ‘created or saved’ is meaningless. What matters is net job gain or loss, and that means the unemployment rate.”