News Thursday that the U.S. Department of Labor revised upward its weekly initial jobless-claims number for the previous week didn’t cause much of a huge stir on financial markets, but it represented the latest in an unusual string of adjustments to the closely followed data.
The Labor Department has now revised upward its first estimate of seasonally adjusted claims in 56 of the past 57 weeks, a Dow Jones analysis of claims reports found. Revisions to government data occur on a regular basis but it is uncommon for numbers to nearly always be restated in the same direction, upward!(hmmmmm!)
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