Alan Krueger, Chairman Of the Council of Economic Advisors, soothed Americans on his White House blog post regarding the unemployment numbers released today.
As the Administration stresses every month, the monthly employment and unemployment figures can be volatile, and employment estimates can be subject to substantial revision. Therefore, it is important not to read too much into any one monthly report and it is informative to consider each report in the context of other data that are becoming available
Did you know that the White House said something similar the month before?
June 2012: “Therefore, it is important not to read too much into any one monthly report and it is informative to consider each report in the context of other data that are becoming available.”
And the month before?
May 2012: “Therefore, it is important not to read too much into any one monthly report and it is helpful to consider each report in the context of other data that are becoming available.”
April 2012: “Therefore, it is important not to read too much into any one monthly report and it is helpful to consider each report in the context of other data that are becoming available.”
And so forth. Like a parrot.
March 2012: “Therefore, it is important not to read too much into any one monthly report, and it is helpful to consider each report in the
context of other data that are becoming available.”
February 2012: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report; nevertheless, the trend in job market indicators over recent months is an encouraging sign.”
January 2012: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report; nevertheless, the trend in job market indicators over recent months is an encouraging sign.”
December 2011: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
November 2011: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
October 2011: “The monthly employment and unemployment numbers are volatile and employment estimates are subject to substantial revision. There is no better example than August’s jobs figure, which was initially reported at zero and in the latest revision increased to 104,000. This illustrates why the Administration always stresses it is important not to read too much into any one monthly report.”
September 2011: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
August 2011: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
July 2011: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
June 2011: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
May 2011: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
April 2011: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
March 2011: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
February 2011: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
January 2011: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
December 2010: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
November 2010: “Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report.”
October 2010: “Given the volatility in monthly employment and unemployment data, it is important not to read too much into any one monthly report.”
September 2010: “Given the volatility in the monthly employment and unemployment data, it is important not to read too much into any one monthly report.”
August 2010: “Therefore, it is important not to read too much into any one monthly report, positive or negative.”
July 2010: “Therefore, it is important not to read too much into any one monthly report, positive or negative. It is essential that we continue our efforts to move in the right direction and replace job losses with robust job gains.”
June 2010: “As always, it is important not to read too much into any one monthly report, positive or negative.”
May 2010: “As always, it is important not to read too much into any one monthly report, positive or negative.”
April 2010: “Therefore, it is important not to read too much into any one monthly report, positive or negative.”
March 2010: “Therefore, it is important not to read too much into any one monthly report, positive or negative.”
January 2010: “Therefore, it is important not to read too much into any one monthly report, positive or negative.”
November 2009: “Therefore, it is important not to read too much into any one monthly report, positive or negative.”
Parrots repeat the same thing over and over ad nauseum. But they can’t read. Maybe the White House figures that people won’t really read their blog too closely either. Isn’t the definition of insanity is to do the same thing over and over and expecting different results?