Wednesday, August 10, 2016

Cooking The Books

BLS statistics frequently get revised as the complete data don't show up until after the reporting time frame. Quarterly growth rates are usually revised downward a point or two, but this is some sort of record:
Bureau of Labor Statistics yesterday reported a massive downward revision of the 1Q 2016 YoY real wage growth from +4.2% to -0.4% (a 4.6% swing).
This to lead into our seventh consecutive Summer Of Recovery from the Bush Recession.

I sure Hope this Changes pretty soon.

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