February 03, 2010
"You Lie! " Government May Lose 824,000 Jobs In Revision
The U.S. may lose 824,000 jobs when the government releases its annual revision to employment data on Feb. 5, showing the labor market was in worse shape during the recession than known at the time.
Drudge cites this Bloomberg claim and claims that the government's original data had been purposefully manipulated to show things were better than what they really were.
Really? The same people who encouraged climate change scientists to exaggerate data for their political benefit would do the same with economic data? I'm shocked.
Posted by Confederate Yankee at February 3, 2010 01:36 PM
Comments
The Bureau of Labor Statistics and the Bureau of Economic Analysis revise their data on a regular schedule, producing 'advance' estimates which are then amended at later dates. I doubt there is anything particularly untoward here.
Posted by: Art Deco at February 3, 2010 09:25 PMThe White House sees this coming ...
WASHINGTON (Reuters) - A White House spokesman said on Thursday it was possible that a jobs report due on Friday could include a revision in monthly data showing more jobs were lost in the recession than previously been thought.800,000 jobs is something like 0.8% making funemployment 10.8%
Posted by: Neo at February 5, 2010 12:44 AM
