Posted on 10/07/2010 9:07:39 AM PDT by Oldeconomybuyer
WASHINGTON (Reuters) - The economy likely shed more jobs last year than previously thought, but analysts say the undercount by the government should prove less severe than it did during depths of the recession.
The Labor Department on Friday will give an initial estimate of how far off its count of employment may have been in the 12 months through March. The government admitted earlier this year that its count through March 2009 had overstated employment by 902,000 jobs.
Analysts expect a much smaller miscount this time.
(Excerpt) Read more at finance.yahoo.com ...
Gosh I HATE the word “shed” in this context. Makes people seem like dandruff. I WISH they’d come up with a different word.
ping
Thanks, Obama!
Good news for Obama! If we lost more jobs than we thought, then Obama MUST have created more jobs than we previously credited him with, and it’s all because of the Stimulus and socialism that he’s such a success. Watch the jobs numbers now, his regime is going to claim credit for creating a whole bunch of jobs to “catch up” the numbers from the losses they just put on the books.
This works out so nicely. He doesn’t get the full blame for the economic damage from the stimulus because they under-reported it, and he gets credit for extra job creation because he can now over-report that.
This labor report will hit Wall Street tomorrow like a brick $hithouse...stand by for high winds and heavy seas...
Another accomplishment by the Jack@ss and the Jack@ss party.
All Tea Party candidates - JUMP ON THIS AND START YELLING, and be RUDE about it!
I’d like to be the first to say it:
Bush’s Fault!!!!
Milton Friedman was right. It should be illegal for Government to handle statistics of any kind.
It seems like just about every time there's bad news in employment the stock market goes up. I figure it's because Wall Street really likes it when there are less employees collecting those pesky paychecks.
Well you know when you have a group of people who have only ever been politicans trying to amke things fair for all it does have consequences.Democrats the party of Foodstamps,truly!
LOL
Well you know when you have a group of people who have only ever been politicans trying to make things fair for all it does have consequences.Democrats the party of Foodstamps,truly!
Milton Friedman was right. It should be illegal for Government to handle statistics of any kind.
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He’s right isn’t he? Every stat seems fudged; unemployment, inflation, GDP. I haven’t read anything about trade stats, but I bet if we lifted up that rock there’d be something ugly underneath as well.
Same for 2010... our government has destroyed all of its credibility. Like a husband or wife that screws around... it will be hard if not impossible to regain our trust.
LLS
When Joe Wilson yelled "You Lie!" he was only stating the obvious, therefore I will never trust the 0bama Regime.
I have donated $300.00 to him since that time... he deserves it.
LLS
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