They get revised more than once. Last year in total was off by only 902,000 for instance, thats how far underreported the job losses were.
Yup, but I’d be happy with just the weeklies.
I just did a little math. The binomial probability of an unbiased jobless claims estimate being revised upward 24 out of 25 times is: 0.0000745058%
It was actually -350K, give or take, not -902K.
Nevertheless, your general point is correct.
Since early 2009, the job market has been considerably weaker than the President’s administration has been reporting.