Inside The Jobless Numbers Summary

Mr. Epstein, in his article entitled, “Inside the Jobless Numbers,” makes three key points, 1) the unemployment rate has never been the object of as much attention from the markets and the media as it is now 2) despite the heightened focus, there are a lot of misunderstanding and misconceptions about how the rate is calculated 3) a close look at the Bureau of Labor statistics methods, suggests they may be over counting the unemployed instead of under counting (Epstein, 2015). In today’s media, where news is almost reported simultaneously as it happens, and along with social media, we are bombarded at all times with information. How accurate and true is this information? We will see in this essay that not only can the reporting be flawed, but that the system used by the actual Bureau of Labor is quite flawed from the beginning. My opinion is that, policy makers use this flawed system to manipulate the system and push their own agendas to discredit opponents and to ensure re-election. …show more content…
Epstein states the unemployment rate has never been the object of as much attention from the markets and the media as it is now, and further that this heightened level of attention is sparked by keen interest by policy makers at the Federal Reserve. Mr. Meyer, in his article entitled, “Why Millennials Should Pay Attention to Monetary Policy,” supports his point by referencing increased media coverage of the Federal Reserve. For instance, the Fed plays favorites with different demographics, there is growing political influence on monetary policy, and future prosperity is threatened when policymakers play with the value of the dollar (Meyer,