Wednesday, November 17, 2021
four months this summer in which it missed more job growth than at any other time on record. In the most recent four months with revisions, June through September, the Bureau of Labor Statistics (BLS) reported it underestimated job growth by a cumulative 626,000 jobs " that's the largest underestimate of any other comparable period, going back to 1979. If those revisions were themselves a jobs report, they'd be an absolute blockbuster. In an average month before the pandemic, estimates would be revised by a little over 30,000 jobs, or just 0.02 percent of all the jobs in the United States. The recent revisions to the jobs reports have been much larger.
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