Comments on: Brown Budget Based on Phantom Jobs? https://calwatchdog.com/2011/05/27/brown-budget-based-on-phantom-jobs/ Fri, 27 May 2011 17:04:45 +0000 hourly 1 By: Wayne Lusvardi https://calwatchdog.com/2011/05/27/brown-budget-based-on-phantom-jobs/#comment-5158 Fri, 27 May 2011 17:04:45 +0000 http://www.calwatchdog.com/?p=18185#comment-5158 Dr. Edward P. Lazear of Stanford Business School kindly sent me the following email for clarification.

“Nice piece. I’m not sure I’d use the term, “statistical illusion.” The number is real, it just doesn’t have much meaning on the likelihood of finding a job, which is the number looking for work divided by the number of hires. If the number looking doesn’t fall and the number of hires doesn’t rise, then things won’t feel much better.”

Ed Lazear

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