Unfair Comparisons and Uncontextualized Data
By Jeff Altman, The Big Game Hunter
An article shared on LinkedIn by its news organization pointed out that millennials have had a tougher than Gen X. It makes a comparison between unemployment rates in 1996 and 2013 to come to its conclusion. I commented:
Data without context is information without knowledge or wisdom. In 1996, few people knew how to spell Internet and thus was born the dotcom boom. Hiring was explosive. Startups were everywhere. Companies were first going online. A developer who could create a laughably simple website could command hundreds or thousands of dollars. An e-commerce store?? That was incredible! Here’s the fun stat– Google wouldn’t exist for another 2 years. Comparing it with 2013 when economic recovery from The Great Recession was slow, steady, and average is abusing statistics to foster resentment. I know @LinkedIn is just reporting but National Bureau of Economic Research has published a piece that makes a factually correct comparison but one without context.
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