Okay the Bureau of Labor Statistics have released “revised” employment statistics for September and October. Look at the difference:
September Original: 159,000 Revised: 403,000
October Original: 240,000 Revised: 320,000
What happened? They claimed that 399,000 jobs were lost when actually it was 723,000. Did someone spill coffee on a spreadsheet? That’s not even close. Lets say they had originally claimed the economy lost a couple hundred thousand jobs for Sept. and then came back and said, oops actually it gained fifty thousand. Does it kind of make you wonder a few things:
1. Um, wasn’t there an election happening when these figures were first released?
2. What good are these figures if they are so revisable?
3. Don’t they owe us an explanation as to how they got it so wrong?
November 2008 press release