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They shouldn’t announce until it’s accurate then?
by mensetmanusman 1y ago
They shouldn’t announce until it’s accurate then?
- PieTime 1y agoUnless they are accurate most of the time, I would agree with this.
- keeda 1y agoThat's where the timeliness versus accuracy trade-off comes in. There is significant value in having an early signal to act on, especially as long as there is awareness of its limitations. And as I mentioned, this data does come with very clearly documented caveats and methodologies so that users can make informed decisions.
- deleted 1y ago[deleted]
- rrrrrrrrrrrryan 1y agoNormally they're accurate enough, and the revisions/refinements are small. The initial estimates haven't been accurate recently, because many workers have been completely dropping out of the economy because they're afraid of immigration raids. Information about these workers is just harder to gather and takes longer to verify.
- gg82 1y agoActually the major complaint was from last year when Biden was president (I'm not sure about this year). Every month, prior months were adjusted downward, often 100,000's thousands and wiping out the previous months positive figure.