The Wall Street Journal has reported that the advance number of seasonally-adjusted initial unemployment insurance claims filed each week has been revised upward in 56 of the past 57 weeks.
http://blogs.wsj.com/economics/2012/04/05/jobless-claims-keep-getting-revised-up/
Make that 57 of the past 58.
What are the odds that they’d be revised upward EVERY SINGLE WEEK? One would think the forecasting model would have to be revised after 10,20,30 weeks in a row of missing by >10%, no?
Sarcasm.
We know all too well: the statistical probability of the initial jobless numbers (which get big headlines) being too low - and therefore better when a Democrat is President is near 100%.