Hold onto your seats folks, the government bean-counters at the Bureau of Labor Statistics say there was an error in this morning’s unit labor cost figures.
This is the same agency that routinely revises non-farm payrolls by hundreds of thousands, so the mistake must be a whopper. They say they will release the corrected data ASAP. In a deflationary labor market, don’t expect the change to be a big market-mover.
