Pretty much everybody with actual financial market experience.
December and January tend to be the most anomalous months, largely due to holiday season along with general seasonality. So the statistical extrapolations used in initial estimates, which always require revisions as more data come in, tend to be dicier around then.
You seem to think there’s something nefarious in this revision, because you seem to think the hotter employment numbers originally reported were a benefit to Biden. First off, revisions a month after initial estimates are no less politically impactful than news of the initial estimates, so it’s all just another clownish leap to grievance. Secondly, the downward revisions are actually good news in this environment - they reflect less inflationary pressure than reported in the estimates.
Which is why you’re seeing actual market participants who see the real world rather than imaginary grievances and conspiracies everywhere drive markets upward in reacting to the news.
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In response to this post by Los Angeles Hoo)
Posted: 03/08/2024 at 10:30AM