Official employment data cannot be trusted

The Financial Times posted an interesting article questioning the official employment data coming from government statistical agencies across the developed world, which are understating the weakness of labour markets and giving false signals to central banks. “Employment figures are being closely watched by central bankers around the world as they try to work out when to cut interest rates this year. There is just one problem: the data might be dodgy”, the article reads. “Swings in immigration, rapid changes to …