10 hours ago, Walker88 said:

As the saying goes, "If it sounds too good to be true, it probably is"

 

The BLS announced that it made a "classification error" in yesterday's release of the UE # for May. They have now corrected it from 13.3 % to 16.3%. So the number they say they should have announced yesterday was 16.3%.

 

What's that line from Trading Places? "Turn those machines back on !"

 

They also announced they made the same classification error in March and April. March's UE should have been 5.4% vice 4.4%, and April's was 19.7% versus the originally reported 14.7%.

Most probably a voluntary "classification error".

 

The wrong numbers were "trumpeted" all over the news, and Twitter, pushing the stock markets in the stratosphere...then came the very quiet announcement of an "error" that will have no impact because no one is listening anymore, the mad traders being already focused on the next good news...

 

When there is a spread of ten million jobs between forecast versus reported then it might be reasonably safe to assume that something just ain't right.