Today's tasty treat courtesy of the BUreau of LLabor SHITandards.
Amazing! Rocket Science! More jobs and a lower labor participation rate magically drops the stated unemployment rate to 8.2%. We're SAVED!
Woops - Charles Biederman, who runs TrimTabs, who bases their observations on withholding data, and, says: "actual jobs, not seasonally adjusted, are down 2.9 million over the past two months. It is only after seasonal adjustments – made at the sole discretion of the Bureau of Labor Statistics economists – that 2.9 million fewer jobs gets translated into 446,000 new seasonally adjusted jobs." A 3.3 million "adjustment" solely at the discretion of the BLS? "
I think I just saw something floating in the punchbowl.
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