Lost Bet on Unemployment

The fall was predictable and predicted but not based on economic data. On the other hand the numbers may not be cooked. The BLS errors have consistently been favorable to the current administration. These make headlines. Then they are revised in the opposite direction which are in the back of the paper or not carried at all. It’s the choice of on which side of things one chooses to error when there is always error. There is no mystery here.