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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: NOW who wrote (1308)3/5/2004 3:01:45 PM
From: mishedlo  Read Replies (1) of 116555
 
"The Lehman Brothers Global Economics team believes that the weak payrolls number may even be worse than at first glance. In addition to the weak 21,000 additions to the workforce, net revisions to the prior two months' payrolls reports subtracted another 23 thousand jobs, for a net of -2,000. Though the number may have been held down a bit by poor weather's effect on construction jobs (-24 thousand), this still paints a convincing picture of continuing employment troubles. The average duration of unemployment increased to 20.3 weeks, another negative indicator. The household survey also showed weakness - people leaving the labor force (-392 thousand) and fewer people employed (-265 thousand). "

With the revisions we really had a loss.
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