Lies, Damned Lies and Government Jobs Data
Emac's Bottom Line
Published May 02, 2012
FOXBusiness
Read more: http://www.foxbusiness.com/investing/2012/05/02/emac/#ixzz4OdwXOPom
There is lots of talk about the "fiscal cliff" the U.S. faces at year end, as stimulus and tax cuts go away.
So the last thing the government needs now is market distrust in its job numbers. But, as analysts dig into the government job numbers, questions are increasingly being raised about the reliability of the data, from questionable revisions in the weekly jobless numbers to the odd changes in unemployment rates.
For 59 out of the last 60 weeks, the weekly jobless numbers have been revised, after the fact, always in the same direction: higher. That's unheard of.