As Gomer Pyle would say: Suprise, suprise, suprise.
This is absolutely unbelievable …
The BLS streak — understating initial unemployment claims – ended this week.
In all the prior 26 election season weeks, the BLS’s “headline number” under-reported initial unemployment claims … and cast the jobs situation as brighter than it really was.
The election was Tuesday, right?
Well, guess what.
Here’s what the BLS report this morning … read it carefully.
- In the week ending November 3, the advance figure for seasonally adjusted initial claims was 355,000, a decrease of 8,000 from the previous week’s unrevised figure of 363,000.
English translation: Some how, the BLS was miraculously able to eliminate the reporting bias that had been consistently evident in the run up to the election.
Frankly, I’d expected them to wait a few weeks to create some distance from the election … then “modify” their reporting.
Nope.
Tell me again how the BLS is just a group of apolitical bureaucrats cranking out consistently reported facts.
The good news is that I can finally stop tracking and reporting the streak.
Quick, somebody call Jack Welch…
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The Homa Files 
November 8, 2012 at 10:51 am |
Unbelievable! Though perhaps they were more pro-active last week about getting survey results back on time….just being optimistic.