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Wiz Imp

(6,646 posts)
10. Needed to add - unlike what this idiot Hassett said, monthly revision to the data are NOT corrections.
Sun Aug 3, 2025, 07:10 PM
Aug 3

The data are estimates. The revisions are estimates. BLS doesn't claim the data to be 100% accurate because that would be totally impossible to do unless you required every single employer in the country to report their number of employees every month. Hassett calling the revision "corrections" proves he has no clue about how statistical surveys work. It's really quite pathetic that someone in his position is so ignorant.

One more thing - the ultimate revisions (which are the "benchmark" revisions) have not been "massive" as he alleges. Yes last year was larger than normal but was actually smaller than in 2009 (see chart below). What the chart doesn't show is the final revision for 2024 was far smaller than the initial estimate (I don't feel like looking it up now but it was under 600,000).

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I wonder which Fox News personality will take her job. SunSeeker Aug 3 #1
Or Walt Nauta in that position.... Bengus81 Aug 3 #2
I'm sure he's totaled up Agolf's score card, so that makes him qualified? Bernardo de La Paz Aug 3 #4
We're fast approaching the twenty jobs each stage of the Trump regime Prairie Gates Aug 3 #7
Borowitz thinks George Santos will get the job JustABozoOnThisBus Aug 4 #17
Trump's Efforts to Control Information Echo an Authoritarian Playbook (NYT gift article) LetMyPeopleVote Aug 3 #3
This message was self-deleted by its author Karasu Aug 3 #5
A person of knowledge, class, and distinction Prairie Gates Aug 3 #6
The payroll job growth numbers were ALL POSITIVE!, and grew 284% over the last 2 months, MAGA! progree Aug 3 #8
Every time one of these Trump idiots opens their mouth they show that nobody in this administration has any clue about Wiz Imp Aug 3 #9
Needed to add - unlike what this idiot Hassett said, monthly revision to the data are NOT corrections. Wiz Imp Aug 3 #10
Sampling error per BLS technical note. And non-sampling error progree Aug 3 #12
So those revisions for May and June were pretty much within the 90% confidence interval. Wiz Imp Aug 3 #14
Thanks, I ETA'd my #12 above nt progree Aug 3 #15
Biggest Job Revisions Since 2020 Expose Pitfall of Economic Data progree Aug 3 #11
As I mentioned on Friday, large monthly revisions are often a sign of a turning point in the economic cycle. Wiz Imp Aug 3 #13
"Reacts" feels like a stretch. maxsolomon Aug 4 #16
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