Pic Of The Moment: Tone-Deaf Sociopath Makes Announcement

[progree]

39. March and April also had the same problem. March was "almost 1 percentage point"

Last edited Sat Jun 6, 2020, 03:43 AM - Edit history (1)

April was "almost 5 percentage points", and May was "about 3 percentage points" off (i.e. the unemployment rates in the respective months would be higher by these amounts were it not for these mis-classification errors). There is no reason to assume that there won't be this error next month, given that they've noted this error for the past 3 months in a row.

I don't know if it was a "buried footnote", given that it's in a big box in the summary. https://www.bls.gov/news.release/empsit.nr0.htm
And in the full report: http://www.bls.gov/news.release/pdf/empsit.pdf

That said, I am disappointed that at least a brief mention wasn't made at the beginning of the summary. Instead of waiting until the end of the summary to tell us there's trouble in paradise. And yes, they waited until the last paragraph of the long long footnote before telling us what we need to know

As for the ADP, they found 2.76 M private sector job loss, whereas the BLS found a 2.425 M private sector job gain. Realize ADP only processes about 20% of the nation's payrolls, as for how they estimate the other 80%, I have no idea.