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Fri Apr 5, 2013, 07:58 AM

Lower Unemployment Is Only Fuzzy Math, Disaster on Payroll and Jobs Creation

from 24/7WallStreet:


Lower Unemployment Is Only Fuzzy Math, Disaster on Payroll and Jobs Creation
Posted: April 5, 2013 at 8:45 am


Friday’s report from the Labor Department is finally here. We had seen lowered expectations ahead of this report due to weaker reports from weekly jobless claims, ISM manufacturing and nonmanufacturing job growth, ADP and even from TrimTabs. This is a disaster for the recovery.

The official unemployment rate was magically lower at 7.6%, versus 7.7% in February, due to a lower counted workforce. Both Bloomberg and Dow Jones were calling for the reading to be flat at 7.7%.

Nonfarm payrolls grew by only 88,000. Bloomberg was calling for 193,000 and Dow Jones was calling for 200,000. Private sector payrolls grew by only 95,000. Bloomberg had projected 200,000.

We warned on Thursday that unofficial estimates were likely lower around 175,000 or 180,000 on payrolls. The report was far worse than what we expected, and they were way under the bottom ranges of 170,000 to 175,000 on the numbers from Bloomberg. ...............................(more)

The complete piece is at: http://247wallst.com/2013/04/05/lower-unemployment-is-only-fuzzy-math-disaster-on-payroll-and-jobs-creation/#ixzz2PaqCyfAW




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Reply Lower Unemployment Is Only Fuzzy Math, Disaster on Payroll and Jobs Creation (Original post)
marmar Apr 2013 OP
xchrom Apr 2013 #1
HiPointDem Apr 2013 #2

Response to marmar (Original post)

Fri Apr 5, 2013, 08:03 AM

1. du rec. nt

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Response to marmar (Original post)

Fri Apr 5, 2013, 08:06 AM

2. kr. UE went down because more people dropped out of the workforce altogether.

 

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