Yesterday, the BLS reported that it’s revising last week’s estimate of new unemployment claims up by 3,000 … or about 1%
We’ve been pointing out this glaring statistical bias for weeks.
Finally, some other media sources have finally jumped on the bandwagon and researched the issue historically.
Turns out that the weekly jobless claims number has now been revised up 20 weeks in a row and 65 out of the last 66 weeks.
Hmmm.
Why is it important?
Because it means the Feds are consistently under-reporting weekly unemployment claims’ changes … making things look rosier than they really are.
May be an innocent error but, geez, wouldn’t you think the statisticians would have caught on to the bias by now?
Tags: BLS, cookin' the books, unemployment claims
The Homa Files 
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