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Politics : Stockman Scott's Political Debate Porch

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To: SOROS who started this subject	3/7/2003 12:20:19 PM
From: TigerPaw	Read Replies (1) of 89467

Smoke & Mirrors. U.S. employers slashed 308,000 jobs from their payrolls in February, the government said Friday, the worst round of job-cutting in 15 months, as the world's biggest economy skidded to a virtual stop in advance of a war with Iraq. money.cnn.com "The overall weakness was so pervasive that it would be silly to completely dismiss the devastating weakness of this report," said Anthony Chan, chief economist at Banc One Investment Advisors, who had predicted a drop of 50,000 jobs -- which had been one of the most pessimistic predictions among the 27 economists polled this week by Reuters. .... it might seem unusual that the unemployment rate's gain would be so small on the heels of such an enormous loss in payrolls, .... What's more, for the second month in a row, the Labor Department changed its statistical methods in the "household survey," which generates the unemployment rate. The department said February's statistics from the household data were not comparable to January's numbers, just as January's numbers were not comparable to December's

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