The streak rolls on: BLS under-reports initial unemployment claims … again!

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 !

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* * * * *

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.

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