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re: Unemployment down to 7.8%
Posted on 10/5/12 at 3:38 pm to GoCrazyAuburn
Posted on 10/5/12 at 3:38 pm to GoCrazyAuburn
quote:
I mean, how many months have they consistently revised the numbers upward? It will probably be around 8.2 once they do I suspect.
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.
1
Posted on 10/5/12 at 3:56 pm to BennyAndTheInkJets
quote:
The Labor Department, based on a broad survey of employers, said 114,000 jobs were added in September.
But the unemployment rate itself is based on a separate "household survey," which showed a whopping 873,000 new jobs in September.
"This must be an anomaly," former Congressional Budget Office director Doug Holtz-Eakin said in a snap analysis of the numbers. "It is out of line with any of the other data.."
Unemployment Report
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