Once a week, we all sit at the edge of our seats for the latest government-created report on jobs. That’s where all the focus is. Where virtually none of the focus goes is on the revisions of erroneous data propagated earlier.
Well, it’s pretty interesting, since for about a dozen years, almost all the data under-reported employment growth. In the past 19 months, however, a full 15 of them were dead wrong, and the few times the jobs data was later increased, it was by very small amounts. It seems to me this is no accident.
