Spooked by “Rigged” Jobs Data? Why Benchmark Revisions Matter More Than Hot Takes – and How to Fix Them.
8 min readKey Takeaways: The Revision That Sparked a Crisis of Confidence in U.S. Economic Data The Bureau of Labor Statistics (BLS) revised payrolls down by 911,000 jobs for the 12 months through March – the largest preliminary benchmark revision since 2000.[1] Markets flinched, and Washington quickly made it a referendum on trust in U.S. labor statistics….