An in depth analysis of WHY YOU ARE WRONG

Saturday, May 09, 2009

FYI, Could Be A Lie

People giddy over the reported loss of "only 530,000 lost jobs" might want to know about the recent revisions in reported figures.

This is very true now.

August 2008: Initially 84,000, revised to 175,000

September 2008: Initially 159,000, revised to 321,000

October 2008: Initially 240,000, revised to 380,000

November 2008: Initially 533,000, revised to 597,000

December 2008: Initially 524,000, revised to 681,000

January 2009: Initially 598,000, revised to 655,000

February 2009: Initially 651,000, revised up 30,000

Added to this are a few more issues as pointed out by Zero Hedge

Kool Aid sales still strong

"First, the "seasonal adjustment", which is a black box that can tweek me into looking like Dumbo the flying elephant. They're knocking off ±65,000 workers for no clearly discernible reason.

Second, notice that the Census Bureau hired 60,000 people last month. Those workers (by definition) are temporary, and are a net cost to the economy, as they will not be adding marginal utility to any economic sector, the census being merely a social expenditure."

No doubt unemployment has declined in Washigton DC--- hiring some security for the next TEA Party and perhaps a few jail cells for us all.

But, But, But--- The stock market is up right???

Or is it that the value of the dollar is down? One thing Washington has done well.

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