[Congressional Record Volume 161, Number 146 (Tuesday, October 6, 2015)]
[House]
[Page H6822]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
NUMBERS NEVER LIE--UNLESS THEY DO
(Mr. FITZPATRICK asked and was given permission to address the House
for 1 minute and to revise and extend his remarks.)
Mr. FITZPATRICK. Mr. Speaker, the numbers never lie--unless they do.
Each month we all react to the release of the employment report as
the supposed indicator of economic health around our country. The most
recent jobs numbers show an unemployment rate of 5.1 percent, but that
headline number paints a picture that simply doesn't exist. It distorts
the economic outlook and distracts this Chamber from working toward the
creation of better jobs and more opportunities for millions of
Americans.
Economists of all persuasions have criticized this method as
overstating job market strength, noting that the Bureau of Labor
Statistics only considers limited factors when reporting the
unemployment rate and ignoring things like underemployment or the
number of workers who have left the labor force. What we are left with
is a flawed view of labor market strength.
With that in mind, I have joined with colleagues in introducing the
Labor Statistics Improvement Act, which would clear the way for changes
in methodology that could help the unemployment rate more accurately
reflect the strength of the labor market.
If the jobs report dictates how this Congress addresses real economic
challenges, we can't afford to get it wrong.
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