Man Without Qualities

Wednesday, December 10, 2003

Pending Revision

One of the more curious aspects of reports of the recent "weak job numbers" is the widespread failure of the media to note that such numbers are subject to revision - and have in fact been recently subject to substantial revision upwards.

The nifty new Senate Joint Economic Committee website goes into it more here and here and here.

At a minimum, before spinning any significant thoughts on why jobs growth has been "weak" it would be wise to wait for the revision.

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