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So the economy is recovering? Well the BBC reports that unemployment is down 24000. Then I read this at the end of the report.
“The ONS is 95% confident that the main unemployment figure is correct to plus or minus 85,000 people.”
I wonder if any reporter will include an explanation on what this means when they talk about the fall in unemployment.
It obviously goes over most journo’s head to try & explain really what the figures mean, so they just roll along with the Tory scum press releases. In doing so they deceive and patronise the people of this country.
What I would like to know from the ONS is the impact of sanctions on these figures, and the confidence limits on the figures. It should be more than +- 85,000, I think.
[…] It should be notes that there are several other recognised metrics for economic success. The Gini coefficient measures the spread of wealth in society. Unfortunately, the latest figure for the UK is from 2011, before many of the budget cuts had taken effect or been announced. Unemployment levels are also important. Unsurprisingly, unemployment levels have risen sharply since the financial crisis started. However, according to a report from the Office of National Statistics 80,000 more people have been employed between March and June 2013. The Conservatives have firmly asserted that this is further proof that their economic plan has worked. They forget that the unemployment figure is given to an accuracy of plus or minus 85,000 people. […]