Here's something you might be interested in.
The September job loss data reported Friday morning by the federal government was bad, but realistically, it was worse. Jobs dropped 263,000 in September, much more than the expected 167,000 loss. The unemployment rate ticked up to 9.8% from 9.7%. The average workweek dropped to an all-time low of 33 hours. Still, the actual picture was worse. The government estimated that 42,000 jobs were GAINED, including 12,000 in construction and 8,000 in finance, through the birth-deaths adjustment model, which is purported to represent jobs in new enterprises. It's just a computer adjustment. It is not real data. Just two days ago, ADP reported a significant decline in jobs in small business. This model is phony.
The September job loss data reported Friday morning by the federal government was bad, but realistically, it was worse. Jobs dropped 263,000 in September, much more than the expected 167,000 loss. The unemployment rate ticked up to 9.8% from 9.7%. The average workweek dropped to an all-time low of 33 hours. Still, the actual picture was worse. The government estimated that 42,000 jobs were GAINED, including 12,000 in construction and 8,000 in finance, through the birth-deaths adjustment model, which is purported to represent jobs in new enterprises. It's just a computer adjustment. It is not real data. Just two days ago, ADP reported a significant decline in jobs in small business. This model is phony.