re: Unemployment down to 7.8%

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I mean, how many months have they consistently revised the numbers upward? It will probably be around 8.2 once they do I suspect.

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Because of the way that the NFP numbers are calculated, you tend to see upward revisions in expansions and downward revisions in contractions. Hence they seem to come in line pretty well with the economy. I don't pay too much attention to the headline number, but pay attention to the direction and magnitude of revisions. Once we go from upward revisions to flat revisions, you know the expansion is either slowing down or the economy is contracting.