4 ms·

Is this a reliable news source? Seems like they have quite the agenda in most of the headlines I browsed on their site. Does not seem to rise to the level of jo

• microtherion 2y ago
  Zerohedge a conspiracy minded site with a massive agenda? Say it ain't so! The US government is so eager to hide these numbers that it… publishes them on the web site of the Bureau of Labor Statistics: https://www.bls.gov/web/empsit/cesnaicsrev.htm https://www.bls.gov/web/empsit/cesnaicsrev.htm The reason these revisions get made is that the statistics are based on a survey of some 130K employers, and not all report in a timely manner. Additionally, newly founded and newly defunct companies are generally not known immediately. Therefore, every monthly number gets revised twice over the next two months, and there is an annual adjustment in addition: https://www.bls.gov/opub/hom/ces/presentation.htm#revisions https://www.bls.gov/opub/hom/ces/presentation.htm#revisions The pattern of revisions can be an indicator of the direction of the economy. In early phases of a recovery, initial surveys tend to undershoot the actual statistics (e.g. in 2021, there were upward revisions, many of them massive, in 11 of 12 months). In slowdowns, there tend to be more downward than upward revisions. If you believe that the current administration is deliberately reporting exaggerated initial numbers (How? Presumably by strong-arming 130,000 employers?), you also have to explain why they deliberately reported underestimates in 2021, or why revisions in 2022 were nearly balanced.