Home > Data, Lazy Trolling > Les Shameless Cherry-Picking Of Macro Data

Les Shameless Cherry-Picking Of Macro Data

Which country has employment statistics worth writing home about?  Employment rates:

Country Youth (15-24) Prime-age (25-54) Older (55-64)
United Kingdom 47.3 80.8 58.6
United States 46.2 75.9 61.2
France 28.5 80.8 45.8

Source: OECD, 2012 Q4.

I’m presuming it can’t be the one with evil right-wingers in charge.

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Categories: Data, Lazy Trolling
  1. July 12, 2013 at 16:57

    Because everything is funnier in faux francais.

    • July 12, 2013 at 18:09

      I wondered briefly whether to use “Les”, “Le” or “La” :)

  2. W. Peden
    July 14, 2013 at 15:46

    Britmouse: you’re being unfair to the fiscalists by not taking expectations into account. There should be a reverse-lag, so the “successful fiscal stimulus” section begins in mid-2008, not late-2008… ;)

    • July 15, 2013 at 08:35

      Ha! That’s interesting though: I actually don’t think Brown/Darling started discussing fiscal stimulus until at least October or November in 2008, did they?

      Darling’s bio admits he (or the Treasury) were conflicted about macro in 2008 – he did a speech in *September 2008* in which he is basically being an inflation hawk, calling for pay restraint and invoking the 1970s:

      http://www.tuc.org.uk/the_tuc/tuc-15332-f0.cfm

      That’s incredible, in hindsight. I need to do more posts about 2008… fascinating period.

  3. W. Peden
    July 15, 2013 at 10:29

    Yes, but wasn’t a fiscal response obvious in mid-2008? Maybe, maybe not.

    At any rate, I love your graph simply for showing the basic empirical problems with the Keynesian narrative of the Great Recession and Not-So-Great Recovery.

    Apropos nothing in particular, all those theories that “predicted” (in a thoroughly non-rigorous way) a double-dip recession in the UK back in 2010 have been disconfirmed by the ONS. One should beware of statisticians bearing confirmatory news…

  4. OhMy
    July 17, 2013 at 15:15

    Meanwhile in this universe:

    • July 17, 2013 at 22:45

      That graph tells you that being stuck in the Eurozone is a very bad idea, and nothing at all about the effects of fiscal policy in a country with independent monetary policy.

  5. davidpaff82
    July 19, 2013 at 18:05

    the uk fiscal austerity was sold on the idea of reducing the budget deficit, since the deficits were supposed to be eeevil, but it’s still 7.5%

    ” The deficit has fallen by less than a third from its peak above 11 percent of gross domestic product in 2009-10 instead of the half originally projected”
    http://www.bloomberg.com/news/2013-07-19/widening-budget-deficit-masks-signs-of-u-k-economic-revival-1-.html

    a larger deficit is better for employment in a depressed economy. usa’s alarming rate of deficit reduction is bad for employment. so yes, osborne’s fiscal austerity failed, and thank heavens it did.

    • July 19, 2013 at 19:41

      So is UK fiscal policy expansionary or contractionary? You don’t seem sure.

  1. July 17, 2013 at 13:32
  2. July 17, 2013 at 14:13
  3. July 19, 2013 at 09:21

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