As can be seen this is the largest positive seasonal adjustment made over the last 10 year period. Go figure.
Posted on 08/05/2016 10:27:38 AM PDT by Nachum
One week ago, the BEA admitted that it had "found a problem" when it comes to calculating GDP numbers. Specifically it blamed "residual seasonality" adjustments for giving historical GDP numbers a persistent optimistic bias. This came in the aftermath of last week's shocking Q2 GDP report which printed at 1.2%, less than half of Wall Street's consensus.
Today, seasonality made another appearance, this time however in the much anticipated July jobs number, which unlike the woeful Q2 GDP number, was the opposite, coming in far higher than expected. In fact it was higher than the top Wall Street estimate.
Unexpected.
Let me guess, now they have been lying for 7 years they are gonna fix it by January. Just a coincidence.
Don’t believe the media...thump..don’t believe the media..thump..don’t believe the media..
That’s what I am counting on, looking to buy a home about March or April after a bubble pop in Nov or Dec. Should be down around 30-40% here, good time to buy.
As can be seen this is the largest positive seasonal adjustment made over the last 10 year period. Go figure.
No headlines about the 94+ MILLION that 0bama has forced out of the workforce.
I've long since quit giving ANY credence whatsoever to statistics released by the 0bame regime. I'd guess you'll see a steady upward trend in the numbers until the election is an effort to help Madam Benghazi.
Sorry, 10 previous years.
Presidents that screw with numbers need their heads to be chopped off
The “killer queen”?
Someone on Fox News said the other day, if the economy is strong (or perceived thus), the incumbent party wins.
it’s all about the schmenjamins......
NoO3
KYPD
Yellen has already demonstrated some propensity for taking actions that provide political benefits. It would not be too far fetched for her to put off any rate hikes in an effort to help her fellow “woman” and justify it as “the economy is still soft”.
Drudge’s idiot headline was really swell. The guy can be Clueless...
Yes, but it will be more and more difficult for her to claim the economy is soft the more false positive figures the adminsitration is producing.
JOHN MAULDIN: The government has been dramatically understating inflation
http://www.businessinsider.com/john-mauldin-government-understating-inflation-2016-5
Not that I believe this administration's numbers anyway, but I just looked at the BLS non-adjusted and seasonally adjusted numbers. I don't see anything that makes this point.
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