I recall my uni prof. saying with a sardonic hint that the science of statistics is an art of torture applied to innocent numbers for the purpose of extracting desired political confessions.
If there were wildly creative statistics applied in the June 16 287K NFP, to be followed by a mea culpa 100K downward adjustment in Jul 16, then I won't be surprised that the Fed loses all credibility in July. Should such unprecedented shame fall upon them, then there's really no point in producing monthly NFP/FP statistics anymore.
But "they" may buy more time by taking their creativity one step further in starting a new policy of adjusting their statistics over three months, rather than monthly, so as to moderate the undesirable effect. We await (wink!).
