Friday, January 9, 2009

Almost a million jobs lost in the real world

From Citizen King:

Stocks are tanking even though the headline NFP is in-line because the BLS employed seasonal adjusting chicanery to mitigate job losses. Not seasonally adjusted (NSA) 954,000 jobs were lost. Additionally, the BLS's hokey Net Business Birth/Death Model unfathomably created 72k jobs in December.

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