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A Measurement Lesson from Social Security

By John S. Tobey

Social Security recipients will get no cost-of-living adjustment (COLA) next year because the trailing one-year Consumer Price Index change was negative. This fact brought to mind the commonly used twelve-month changes to measure economic and financial results. In normal times, such analysis is appropriate. A twelve-month comparison removes the monthly and quarterly noise and... »

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September 2017
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