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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (8873)	7/8/2004 10:11:18 AM
From: mishedlo	Read Replies (1) \| Respond to 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:

To: mishedlo who wrote (8873)	7/8/2004 10:59:52 AM
From: russwinter	Read Replies (3) \| Respond to of 116555

Good point in time to compare yoy Daily Treasury Statement: Month of June, plus July through first Monday after the holiday is 149,050 vs. 146,938, up 1.44%, still stuck in the mud.