110 sats \ 2 replies \ @Cje95 21 Aug \ on: US Jobs Revised Down By 818,000 econ
I want to be the person who decides the initial number. The revisions are always so freaking crazy I swear the guy must throw darts at a number board or do what South Park showed us in the Fed bailout episode with the chicken. If anyone else was this bad at their job they would have been fired but no somehow we look past the embarrassing revisions every time.
A friend of mine interned at the BLS one summer when he was in high school in the 1970s. He told me that everything was based on these surveys, and there was always missing data and delayed reporting. He said that to him it seemed like everyone was guessing. Maybe things haven't changed.