The Bureau of Labor Statistics (BLS) estimates that in the month of March 2021 somewhere around 916,000 payrolls were added back to the economy. I have to disclaim the figure simply because the statistics used to create it aren’t really all that precise; piecing together data from a survey of 145,000 business establishments, a fraction of the economy’s total, the government comes up with a 90% (only 90%) confidence interval that’s a few hundred thousand in breadth. In other words, what the BLS is actually saying about last month is that if it was to resample the same survey respondents 100 times, in 90 of them the ... (full story)