yeah good point, the idea that these metrics are being skewed to enable more rate hikes seems plausible to me

The revisions are ridiculous. Good jobs numbers give Powell political cover to raise rates, which says to me the fed is really frightened of inflation. Once the wheels come off and the US can no longer afford its debt service, ceiling or no ceiling, the jobs numbers will get ugly. Then they will slash rates to "save the economy. "

siggy47

Hasn't the BLS also been revising down their recent wage data? Seems like they put out arbitrary numbers, gauge market reaction and then correct the numbers in the months ahead by the time the market has moved on 

bitcoin

What’s Up With Jobs Numbers?

I don't consider myself a smart econ guy at all, but I have a friend who used to work at the BLS(Bureau of Labor Statistics). These are not hard numbers. They are based on limited surveys, and then the numbers are extrapolated. They are also subjected to often arbitrary "seasonal adjustments. " The term of art he used, I believe, was "bullshit."