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December 10, 2009 / Toby Dayton

The Bastardized Math Behind The U.S. Unemployment Rate Calculations & Why Monster Should Be Embarrassed About Their Invitation To The White House

Because I’ve written in the past about how bastardized the math is behind unemployment rate (seriously, read my March ’09 blog post if you’re even remotely interested in the U.S. unemployment rate) I had to laugh at the comedic, animated rendition of how the Department of Labor calculates (or fails to accurately calculate) the nation’s unemployment rate.

One of the things the White House should incorporate into their ‘Jobs Program’ is restoring the integrity (and maybe even improving the data sources and statistical validity) of this critical economic statistic. As the old business adage goes, if you aren’t measuring it, you can’t improve it. And in reality, the government is not, by any reasonable stretch of the imagination, measuring unemployment.

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As an aside to the conversation about how the government can spur job growth (the stimulus does appear to be working, by the way, and there are some great ideas being floated around the web), the Administration may want to rethink the guest list at the White House for the jobs conversation this week. While it might make sense on the surface, Monster CEO Sal Iannuzzi has no business advising anyone about job creation. Monster has been forced to massively reduce their headcount in the past 18 months due as much to their own failing, antiquated business model as the economic meltdown.

But even worse, Monster’s business practices are extremely detrimental to both job seekers and employers. If Sal wanted to do his part to help put people back to work, he should immediately announce that Monster will remove every old, outdated job posting on his site as well as all the garbage job listings that are so common on pay-to-post job boards. These bogus job postings include all the work-at-home scams, phishing jobs, identity theft jobs, and scam jobs that Monster willingly and knowingly accepts to crassly boost their revenue. Unfortunately, these same listings not only pollute their job board, but they make Monster’s user experience excruciatingly frustrating and massively counter-productive for job seekers and employers alike.

3 Comments

  1. nikpalmer / Dec 10 2009 1:05 pm

    Hey,That's my line! :) Thanks for clearly outlining the issues.

  2. Anonymous / Dec 10 2009 7:05 pm

    Hey,That’s my line! :) Thanks for clearly outlining the issues.

  3. nikpalmer / Dec 10 2009 7:05 pm

    Hey,That's my line! :) Thanks for clearly outlining the issues.

Comments are closed.