One more time …
Now we’re up to 74 out of 75 weeks — and, at least 15 weeks in a row — 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 August 3 was revised upward from 361,000 to 364,000.
In itself, the 3,000 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 !
* * * * *
Almost forgot … the preliminary unemployment claims for the week of Aug. 11 are up 5K vs. the Aug. 3 preliminary number and up 2K vs the revised Aug.3 number.
In other words, no indication that a corner has been turned.