BLS bias continues
Now we’re up to 70 out of 71 weeks that the BLS’s “headline number” has under-reported the number of initial unemployment claims … and cast the jobs situation as brighter than it really is.
Based on Thursday’s BLS report, the number for the week ending July 7 was revised upward from 350,000 to 352,000.
In itself, the 2k isn’t a big deal.
But, in context it is
Again, I ask: statistical bias or political bias?
If the former: fix it already, BLS.
Hint to BLS: just add 2k or .8% to your prelim forecast !
* * * * * *
Increase in Unemployment Claims
And, don’t miss the big point: initial unemployment claims increased by about 10% to 386,000
I expect Team Obama to whine:
“Therefore, it is important not to read too much into any one monthly report and it is informative to consider each report in the context of other data that are becoming available.”
Safe bet since, as we reported before, that’s exactly what they’ve said each month for over 2 years.