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Video games spending by young Americans is dropping sharply, report suggests
(www.gamesindustry.biz)
this post was submitted on 02 Jul 2025
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Well now you've met a statistician, a person with an Econ degree, specialization in Econometrics who is telling you the BLS numbers have been garbage for 2 years, based off of how many revisions they have to keep doing, and the magnitude of those adjustments.
I've been a professional data analyst at multiple large companies for years, I'm not going to explain this further unless you want to pay me for the full 40 page methodology breakdown.
Real time economics is not hard for me, it was my career until I retired.
Damn near every single measurable metric in the US economy beyond what's in the most easy to consume, most non specialist oriented media is screaming that everything is going tits up.
Hey when was the last time the Fed had to significantly jump into the Repo market to bail it out?
Oh, right, it was this past week.
I'm not going to bother to list out every single indicator/methodology I consider because 1) I'd break the lemmy comment post character limit (its 10k, btw) and 2) I'm used to being paid for such detail.
Ah an economist, say no more fam.
Hey there, sorry to necropost, but uh:
https://www.msn.com/en-us/money/general/july-s-jobs-report-included-big-downward-revisions-here-s-why-the-numbers-change/ar-AA1JJV2e
Remember how I was saying BLS jobs estimate data is bullshit, that keeps getting revised down?
Well they fucking blew the lid off of it this time, turns out that 258k jobs they initially said were added in May+June?
Poof, all gone, not real, we actually only added 33k, not 281k, in May + June, according to BLS.
And you know the measely 78k from July could also be revised downward too, in the coming months!
Trump actually fired the head of the BLS over this.
...
Sorry to get so irate over this whole issue and channel it all toward you, but jfc, I was right, 95% of finance bros and 'economists' most people hear from or about are actually fucking bad at their jobs.
See, technically, I am an econometrician, not economist.
It means I specialize in the metrics, the statistics, the data quality.
... it also means I am not surprised by things that other people get surprised by.
Although with the overt politicisation of BLS I think I'll be with you in trusting ADP more going forward. Going to be super interesting to watch any divergence from now on. I guess it could be that some of the YTD difference was some internal power struggle that was unwound by the revisions leading to Trump sticking his oar in, but I think that's a conspiracy theory until someone gives a quote to that effect.