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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (8873)7/8/2004 10:11:18 AM
From: mishedlo  Read Replies (1) of 116555
 
From Pituophis on the job numbers

That seem's like a GREAT number...right? As usual, a glance just under the surface reveals that the drop in claims is due to the shenanigans of government statisticians. Anyone watching CNBC this morning heard it first there, amazingly enough - after reporting the initial claims number, Steve Liesman stated that the number "should be completely ignored" because the BLS made a seasonal adjustment for expected auto worker layoffs that didn't materialize but the layoffs will happen next week. I did a google search and found confirmation of that statement on Bloomberg:
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