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

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To: Sea Otter who wrote (110491)	4/9/2010 7:46:48 PM
From: Sunny Jim	4 Recommendations Read Replies (4) of 116555

from the NY Times <<Usually you can depend on the White House to view the economy with the most rose-tinted glasses available. But it was not until last week, after a strong employment report, that President Obama started to sound a little optimistic.>> What has me puzzled (or maybe cynically amused) is that everyone except maybe Mish and a few others are calling the March unemployment numbers a "strong employment report". I don't recall the exact numbers but it was something like 162,000 jobs created. But 48,000 were part-time census jobs and something like 84,000 were jobs assumed to be created using the birth/death model. It's been awhile, but I don't recall any month in the entire recession when the birth/death model actually subtracted jobs from the totals, so those assumptions are suspect. Real jobs created was maybe 30,000, but it takes 100,000 just to keep up with population growth. To call that a strong employment report certainly looks like news reporting without doing any homework to me.

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