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Peter Berezin: BLS model change increases monthly variability in U.S. job data

Peter Berezin: BLS model change increases monthly variability in U.S. job data
BLS model shift raises job data swings

The Bureau of Labor Statistics (BLS) updated its birth-death model earlier this year to better incorporate new information, according to Peter Berezin. This revision aims to enhance the model's accuracy over longer horizons but has led to greater variability in the monthly data. Berezin emphasizes that, despite reports, the U.S. economy did not see a gain of 178,000 jobs.

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