Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: zebra4o1	10/1/2004 7:55:34 PM
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October Surprise Don Luskin thinks next Friday's job report is going to get Bush elected. "What I'm focusing on is the fact that every October the Bureau of Labor Statistics goes through a process it calls "benchmarking." It does a major overhaul on the complex model it uses to estimate the true number of jobs created in the economy. Based on this annual overhaul, the BLS goes back and revises the entire previous year of jobs numbers. Fasten your seatbelt, because this time we could see the last year's worth of jobs numbers revised upward by anywhere from half a million to a million jobs. We could wake up next Friday and discover that we've been in a labor boom all year without even knowing it. In a heartbeat, this "jobless recovery" won't seem so jobless any more. trendmacro.com

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