August seems to be a particularly difficult month for BLS statisticians to get the payroll number right, notes Stone & McCarthy. The initial print is usually short of expectations, and even more likely to be revised upward - by an average of 62K over the last 10 years. Just for argument, add 62K to this morning's report and all of a sudden it's a big beat. And the Fed is considering additional stimulus because of the report?
August seems to be a particularly difficult month for BLS statisticians to get the payroll...
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