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Strategies & Market Trends : Labor Market
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To: flint who wrote (35)8/1/2003 4:05:09 PM
From: flint   of 46
 
"Nonfarm payrolls continued to decline, with 44,000 positions lost in July compared with economists' projections for a 13,000 increase. Adding to the negativity, June nonfarm payrolls were downwardly revised to show a loss of 72,000 jobs compared with the previously reported 30,000."

The employment adds did not take off until after the second week. Assuming these 'estimates' are calulated with the scientific methods used on un-employment filing (taking the actual with their estimates and averaging them to come up with next periods estimate) August should blow the estimated numbers away (if the recent momentem stays). Assuming revisions are based on finalising the last weeks numbers vs using the first 2 to 3 weeks and averaging them over the month, I'm guessing the July number will be revised up just as June's was revised down.

biz.yahoo.com
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