Sunday, August 18, 2024

Oops, Our Bad

 Zero Hedge reports via X as follows:

On Wednesday, the Bureau of Labor Statistics will downward revise jobs for the April 2023-March 2024 period by up to 1 million. This means that all "beats" recorded in the past year will have been misses and the US job market is in far worse shape than the admin would admit.

It appears BLS is reporting what is politically expedient rather than what is happening. Our government statistics may be no more reliable than those of China, for example. Hat tip to Instapundit for the link.