Last October the BLS announced it would revise historical payrolls lower by 824,000 on February 5 (this Friday's NFP release). While this number will not impact the actual January NFP report ...while we know what the current revision will be, the scarier prospect is that the next historical adjustment, due out in early 2011, will be even larger, at least 990,000. This means that the government has overrepresented running payroll data by over 1.8 million jobs over the past 20 months. Here's the link: More Obama LiesThe country got what it voted for: garbage in, garbage out.
Wednesday, February 3, 2010
with his useless stimulus legislation and the assumption of another trillion of related indebtedness? I think the last number I saw coming from the White House was in the 700k range. You better read this before you are willing to believe that garbage - from http://www.zerohedge.com/:
Posted by Dave in Denver at 1:18 PM