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#192 Dr. Lacy Hunt On What The Huge Downward Revision In The Jobs Data Means For The Economy
Legendary economist Dr. Lacy Hunt, EVP and Chief Economist of Hoisington Investment Management Company, joins Julia La Roche on episode 192 for a wide-ranging discussion on the deteriorating economy.
In this episode, Dr. Hunt explains that non-farm payrolls overshot by five standard errors, making it the worst miss since a 9 standard one for 2009, during the GFC recession, and marking another bureaucratic failure. According to Dr. Hunt, the reported overshoot of 818,000 was based on an internal seasonally adjusted series, but based on the nonseasonal adjusted data, the overshoot was actually…
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