▲ | babblingdweeb 3 days ago | |
Trust in the numbers is extremely important and we should all be calling out that we need to trust the numbers and the methodology. It should also be transparent. However, it's extremely common in forecasting to revise the forecast once actuals come in. In the case of the BLS, it's the documented approach for a very long time. Every month the numbers are adjusted and annually. All of the notes as to why, the method, etc are in the actual reports*. *I don't recommend reading them or the footnotes unless you have insomnia. :) ** Also, if the source data is inaccurate, corrupted, etc; if the models are non-transparently adjusted, that would be horrible and cause for alarm. At the moment, we don't know if that is the case. Yet. |