As soon as I heard that Friday's nonfarm payrolls report was the biggest "miss" in history, I knew that something was "amiss."
And it wasn't the eConomissts estimates. As much as I can't stand Wall Street and most academic eConomissts, their jobs estimates are usually pretty good, rarely missing the BLS number by more than a few tenths or hundredths of a percent. This time, the difference was orders of magnitude.
I knew from this that the eConomissts had it right and the BLS had it wrong. Very, very wrong.
Could it be-ee-ee-ee, that the BLS, aka the Bureau of