Last Friday, the Bureau of labour Statistics told us that the unemployment rate fell to 7.8 per cent in September from from 8.1 per cent in August.The extraordinary drop sent Jack Welch to Twitter who suggested that the number was fixed.
Indeed, the drop was improbable.
But it’s not unheard of.
“A three-tenths (or greater) decline in the unemployment rate in a single month is relatively unusual,” said Deutsche Bank’s Carl Riccadonna. “This has occurred nine times since 1990 and four times since 2000.“
You can head to BLS.gov and see for yourself.
That’s your statistic of the day.