No. 561: Payroll Benchmark Revision, August Household Income, Revised Second-Quarter GDP

(SGS Subscription required) • Bad Numbers? Just Change the Reporting Methodology!
• Economic “Growth” Created by Statistical Redefinitions, Not by Consumer or Business Demand
• 2013 Benchmark Payroll Employment Revision of Minus 124,000 Changed to Plus 345,000 with Redefinitions by BLS
• GDP Revision Was No More Than Statistical Noise
• Annual GDP Growth Has Slowed to Typical Pre-Recession Levels
• Household Income Remained Stagnant, Near Cycle Lows

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