Deep dive into the BLS model

Deep dive into the BLS model

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Bloomberg is running a report on pending amendments to the BLS labor statistics which may result in sharply higher unemployment statistics in 2008/2009.  The reasoning is that the BLS model’s mechanism to account for newly-created and recently-closed businesses does not consider the sharply higher number of closures over that time period.  More recent data will not be revised till next February.  The article is well worth a read.

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