2.5 million jobs were created in May 2020, according to the jobs report. Metaculus was something like [99.5% or 99.7% confident](https://www.metaculus.com/questions/4184/what-will-the-may-2020-us-nonfarm-payrolls-figure-be/) that the number would be smaller, with the median at −11.0 and 99th percentile at −2.8. This seems like an obvious sign Metaculus is miscalibrated, but we have to consider both tails, making this merely a 1 in 100 or 1 in 150 event, which doesn’t seem too bad.
2.5 million jobs were created in May 2020, according to the jobs report. Metaculus was something like [99.5% or 99.7% confident](https://www.metaculus.com/questions/4184/what-will-the-may-2020-us-nonfarm-payrolls-figure-be/) that the number would be smaller, with the median at −11.0 and 99th percentile at −2.8. This seems like an obvious sign Metaculus is miscalibrated, but we have to consider both tails, making this merely a 1 in 100 or 1 in 150 event, which doesn’t seem too bad.