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What did the BLS revise? The method to create desired numbers?
Did the BLS make a mistake the first time?
Is any number believable from our government?
Nope.
Nope.
Yes.
The initial BLS numbers are ALWAYS "preliminary" - and that has ALWAYS been the case. The initial run of data from the states are generally quickly generated but subsequently incomplete estimates. As additional (more refined and more complete) data comes in from each of the states, the previous months data is updated with it. There are generally 3 such updates. At that point the data is considered final.
That's the way it's been done for roughly a CENTURY now.
FWIW, Those numbers seem to mesh with what I am seeing on the street. That 2.2% rise in hourly could be a precursor to some inflation, it will be interesting to see what happens with the LFPR, if it stays anemic, you could see some long overdue salary pressures unless we get a big influx of H1-B visas or illegals into the workforce.
WASHINGTON, D.C. -- The U.S. Payroll to Population employment rate (P2P), as measured by Gallup, was 44.1% in January. This is statistically similar to the 44.3% measured in December, but it is the highest measurement of P2P for any January since Gallup began tracking the metric in 2010. January is typically one of the lowest months for P2P in any year.
....
U.S. employment measures show continued positive signs for the economy in January 2015. Employment growth has been stronger in the past 12 months than in any year since Gallup began tracking these metrics in January 2010. P2P was higher in January in 2015 than in any previous year, hopefully setting the stage for continued strength in the months ahead. Unadjusted unemployment rose by more than a point, but the underlying combination of more workforce participation and lower rates of part-time work that appear to drive this increase make this counterintuitively good news
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