every week we get the report and the WH either trumpets it or avoids it. But, the next week the number is always revised upward Why even bother releasing the figures until they are accurate? Once again, the prior week has been revised upward http://www.foxbusiness.com/economy/2012/08/16/weekly-jobless-claims/
Uninformed sheep are complacent sheep, and complacent sheep won't kill their herders.... if the hard truth of this slowly circling economic death spiral we're in were plastered on the evening news every week, DC would be on fire.
The initial reports are ALWAYS preliminary. The initial reports have ALWAYS been preliminary. If you don't understand what that means, then you should do some basic research on how the data is collected and why constant revision is necessary. As a bonus, I love this little gem that the author of that article tossed in: "The U.S. economy still faces a number of threats, including the looming possibility the government will raise taxes and cut spending. That is already hurting business sentiment." I'm shocked that they didn't try to tie it to the abortion rate or same-sex marriage...
"They"? The ONLY PEOPLE trying to make an issue oa ABORTION or HOMOSEXUALITY are Democrats; no one else really gives a crap. Abortion has already been VASTLY LIMITED,as was needed, at the STATE level....and no one really cares about other peoples' genital preference.
The govt fudges the numbers to make things look better than they really are. http://www.zerohedge.com/news/seasonal-and-birth-death-adjustments-add-429000-statistical-jobs Happy by the headline establishment survey print of 133,245 which says that the US "added" 163,000 jobs in July from 133,082 last month? Consider this: the number was based on a non seasonally adjusted July number of 132,868. This was a 1.248 million drop from the June print. So how did the smoothing work out to make a real plunge into an "adjusted" rise? Simple: the BLS "added" 377K jobs for seasonal purposes. This was the largest seasonal addition in the past decade for a July NFP print in the past decade, possibly ever, as the first chart below shows. But wait, there's more: the Birth Death adjustment, which adds to the NSA Print to get to the final number, was +52k. How does this compare to July 2011? It is about 1000% higher: the last B/D adjustment was a tiny +5K! In other words, of the 163,000 jobs "added", 429,000 was based on purely statistical fudging. Doesn't matter - the flashing red headline is good enough for the algos. Seasonal Adjustment: Birth Death: The numbers are from http://www.bls.gov/data/#employment Odd how the predictions always favor the govt perspective. You would think the estimates would sometimes make the employment situation look better, sometimes worse, not always favor the govt view.
