@TBPInvictus here (link is now to Bluesky)

Let’s cut to the chase: A Hoover Institution analysis of California private job creation is off by a factor of 100. Between January 2022 and June 2024, the state created 523,700 private sector jobs — not 5,400 as claimed. MSM uncritically repeated the false number.

I spend far too much time debunking economic bullshit. *Sigh.*

Our story so far: Hoover Institution’s Lee Ohanian wrote a piece last April falsely claiming that California’s new minimum wage law had cost the state almost 10,000 fast food jobs. The story was false. Some sleuthing uncovered the fact Ohanian had inappropriately relied on data that was not seasonally adjusted. To his credit, he eventually walked his error back, but only when confronted by Michael Hiltzik at the LA Times.

Once again, Ohanian is back with another egregious data analysis error.

In an August piece — which laid

Keep reading this article on Barry Ritholtz - The Big Picture.

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