Posted on 06/04/2010 6:21:24 AM PDT by thought
Real Payroll numbers calculation:
431k minus 411k (census) minus 31k (temporary) minus 215k (birth/death) = -226k. Bad
Full report at http://stats.bls.gov/news.release/empsit.htm
That is just about the crappiest number imaginable.
Futures took a major, triple coronary on that news.
www.cme.com
Yow.
A 215k birth/death is huge for May!
I think consensus was for about 90k. My Bloomberg is about to go blood red...
I am proud to say that I at least contributed to the plus numbers in the private sector after 4 months in the desert(no UI either). Good thing that food is always being produced and that food needs to be tested for pathogens.
215k (birth/death)????
“215k (birth/death)????”
This is an arcane, officially-sanctioned fudge factor the gov’t can throw into things to baffle everyone. The issue this time is that the un-fudged numbers are so incredibly rotten that the attempt at fake euphoria not only cannot overcome them, but becomes revealed even more clearly as the BS it actually is.
As a trading matter, this smackdown open should be bought!
Anybody else notice that we’re really encountering an incredibly dense barrage of negative news on just about all fronts?
The official job numbers are based on a monthly survey of employers, augmented by something called the “birth-death model,” which factors in jobs assumed to have been created by employers who are too new to have been included in the survey, and subtracts jobs from employers assumed to have failed and therefore not responded to the latest survey.”
Thanks!
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