View Full Version : Gov't Fudges Job Numbers in June & July
Quote[/b] ]Not only did the report show that there was no job growth last month, but it also found that the job market was significantly weaker in June and July than the government first reported. Revisions to earlier jobs reports showed that 81,000 fewer jobs were created than initially estimated.
I guess you can't fool all of the people all of the time. Market down 233 as of this posting.
4 Year "Growth" Ends. (http://www.nytimes.com/2007/09/07/business/07cnd-econ.html?ex=1346817600&en=0a122703cea2f44b&ei=5088&partner=rssnyt&emc=rss)
Quote[/b] ]One of those positive factors is solid wage growth. Average hourly earnings for most American workers last month increased 3.9 percent from the same month last year, to $17.50, showing no decline from July.
Considering how the dollar has fallen under Bush's administration, this "positive factor" too is a loss. http://www.qrz.com/iB_html/non-cgi/emoticons/sad.gif
n2cfj
09-07-2007, 09:22 PM
Isn't it the gov'ts job to fudge, distort and spin statistics?
Yeh, but fudging numbers like this ends up counter-productive. You'd expect a 3rd grader to fudge this kind of information this particular way. It's just buying time and it's just going to make it worse later when the drop is found to be larger and greater than expected. The Dow dropped 249 points today. Worse yet it's a weekend. We'll have to wait until the Monday opening to see what happens next...
It's not encouraging, but if you're selling now, it's probably too late. If it picks up, it may make it up, but if it doesn't, well look out below...
kc0ukk
09-07-2007, 11:26 PM
Quote[/b] (n2nh @ Sep. 07 2007,08:30)]Quote[/b] ]Not only did the report show that there was no job growth last month, but it also found that the job market was significantly weaker in June and July than the government first reported. Revisions to earlier jobs reports showed that 81,000 fewer jobs were created than initially estimated.
I guess you can't fool all of the people all of the time. #Market down 233 as of this posting.
4 Year "Growth" Ends. (http://www.nytimes.com/2007/09/07/business/07cnd-econ.html?ex=1346817600&en=0a122703cea2f44b&ei=5088&partner=rssnyt&emc=rss)
Can you identify a single month in say, the last ten years, where the employment rate wasn't 'fudged'?
Quote[/b] (kc0ukk @ Sep. 07 2007,19:26)]Quote[/b] (n2nh @ Sep. 07 2007,08:30)]Quote[/b] ]Not only did the report show that there was no job growth last month, but it also found that the job market was significantly weaker in June and July than the government first reported. Revisions to earlier jobs reports showed that 81,000 fewer jobs were created than initially estimated.
I guess you can't fool all of the people all of the time. Market down 233 as of this posting.
4 Year "Growth" Ends. (http://www.nytimes.com/2007/09/07/business/07cnd-econ.html?ex=1346817600&en=0a122703cea2f44b&ei=5088&partner=rssnyt&emc=rss)
Can you identify a single month in say, the last ten years, where the employment rate wasn't 'fudged'?
Tell that to investors. Apparently they don't trust the Decider and his merry band of Deciderettes. You'd think they were all liars the way the market is reacting! Imagine.
http://www.qrz.com/iB_html/non-cgi/emoticons/laugh.gif
kc0ukk
09-08-2007, 01:38 AM
Quote[/b] (n2nh @ Sep. 07 2007,16:28)]Quote[/b] (kc0ukk @ Sep. 07 2007,19:26)]Quote[/b] (n2nh @ Sep. 07 2007,08:30)]Quote[/b] ]Not only did the report show that there was no job growth last month, but it also found that the job market was significantly weaker in June and July than the government first reported. Revisions to earlier jobs reports showed that 81,000 fewer jobs were created than initially estimated.
I guess you can't fool all of the people all of the time. #Market down 233 as of this posting.
4 Year "Growth" Ends. (http://www.nytimes.com/2007/09/07/business/07cnd-econ.html?ex=1346817600&en=0a122703cea2f44b&ei=5088&partner=rssnyt&emc=rss)
Can you identify a single month in say, the last ten years, where the employment rate wasn't 'fudged'?
Tell that to investors. #Apparently they don't trust the Decider and his merry band of Deciderettes. #You'd think they were all liars the way the market is reacting! #Imagine.
http://www.qrz.com/iB_html/non-cgi/emoticons/laugh.gif
The market is turning to bonds as they anticipate a fed rate cut. The employment has increased monthly for four straight years with the unemployment rate staying steady at 4.6%. One month of essentially static job growth after a four year growth sprint is more or less expected.
Market liquidity due to the subprime mortgage situation is the biggest concern the market faces. Nobody knows yet who is going to end up holding the bag, hence the volatility the market has been and will be expriencing for the next six months or so.
Quote[/b] (kc0ukk @ Sep. 07 2007,21:38)]Quote[/b] (n2nh @ Sep. 07 2007,16:28)]Quote[/b] (kc0ukk @ Sep. 07 2007,19:26)]Quote[/b] (n2nh @ Sep. 07 2007,08:30)]Quote[/b] ]Not only did the report show that there was no job growth last month, but it also found that the job market was significantly weaker in June and July than the government first reported. Revisions to earlier jobs reports showed that 81,000 fewer jobs were created than initially estimated.
I guess you can't fool all of the people all of the time. Market down 233 as of this posting.
4 Year "Growth" Ends. (http://www.nytimes.com/2007/09/07/business/07cnd-econ.html?ex=1346817600&en=0a122703cea2f44b&ei=5088&partner=rssnyt&emc=rss)
Can you identify a single month in say, the last ten years, where the employment rate wasn't 'fudged'?
Tell that to investors. Apparently they don't trust the Decider and his merry band of Deciderettes. You'd think they were all liars the way the market is reacting! Imagine.
http://www.qrz.com/iB_html/non-cgi/emoticons/laugh.gif
The market is turning to bonds as they anticipate a fed rate cut. The employment has increased monthly for four straight years with the unemployment rate staying steady at 4.6%. One month of essentially static job growth after a four year growth sprint is more or less expected.
Market liquidity due to the subprime mortgage situation is the biggest concern the market faces. Nobody knows yet who is going to end up holding the bag, hence the volatility the market has been and will be expriencing for the next six months or so.
Actually, if you read the article, it's more like 3 months of decline on the order of 87,000 fewer jobs (the 6,000 this month and 81,000 in June and July). This is where they fudged the numbers. This is also what has the market doing flip-flops because it is an indicator that we have a more than decent chance of going into a very bad 'recession.' Or even that '-cession' word that starts with a "DE".
Oddly enough, when I heard Bush's tax plan in 2000, I said point blank if he goes two terms expect to be right where we are now. The whole plan stank to high heaven.
http://www.qrz.com/iB_html/non-cgi/emoticons/sad.gif
kc2orw
09-08-2007, 02:01 AM
Quote[/b] (kc0ukk @ Sep. 07 2007,18:38)]Quote[/b] (n2nh @ Sep. 07 2007,16:28)]Quote[/b] (kc0ukk @ Sep. 07 2007,19:26)]Quote[/b] (n2nh @ Sep. 07 2007,08:30)]Quote[/b] ]Not only did the report show that there was no job growth last month, but it also found that the job market was significantly weaker in June and July than the government first reported. Revisions to earlier jobs reports showed that 81,000 fewer jobs were created than initially estimated.
I guess you can't fool all of the people all of the time. Market down 233 as of this posting.
4 Year "Growth" Ends. (http://www.nytimes.com/2007/09/07/business/07cnd-econ.html?ex=1346817600&en=0a122703cea2f44b&ei=5088&partner=rssnyt&emc=rss)
Can you identify a single month in say, the last ten years, where the employment rate wasn't 'fudged'?
Tell that to investors. Apparently they don't trust the Decider and his merry band of Deciderettes. You'd think they were all liars the way the market is reacting! Imagine.
http://www.qrz.com/iB_html/non-cgi/emoticons/laugh.gif
The market is turning to bonds as they anticipate a fed rate cut. The employment has increased monthly for four straight years with the unemployment rate staying steady at 4.6%. One month of essentially static job growth after a four year growth sprint is more or less expected.
Market liquidity due to the subprime mortgage situation is the biggest concern the market faces. Nobody knows yet who is going to end up holding the bag, hence the volatility the market has been and will be expriencing for the next six months or so.
A half a year of slow to no growth wouldn't be all that much... Gotta be a recession sometime or other what goes up must come down... eventually