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Post by mdub on May 7, 2010 11:44:17 GMT -6
I used to put some stock in the monthly jobs numbers, but now I believe that the government is just making these nembers up.
The Payroll report said that there were 290,000 new jobs added in April, while the Household Survey said that 550,000 jobs were added. In the past 3 months, the Household survey reported that 1.1 million jobs were added.
Is this even remotely realistic? If this were true, corporations would be hiring tens of thousands of people and the media would be hyping it. In Nor Cal, the Numi plant closed in April, costing the local economy an estimated 30,000 - 50,000 jobs.
But who's hiring? I'd like to see a list from the BLS of the companies that hire every month and the number of people each is hiring. This would give me a lot more faith in the reported jobs data.
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Post by waltc on May 7, 2010 13:35:00 GMT -6
The Payroll report said that there were 290,000 new jobs added in April, while the Household Survey said that 550,000 jobs were added. In the past 3 months, the Household survey reported that 1.1 million jobs were added.
Is this even remotely realistic?
No, at least here in CA it's not and probably not anywhere for that matter. If it were, the MSM would be show casing the companies hiring people by the bucket loads and they're not, so that tells me its so much hot air.
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Post by graybeard on May 10, 2010 18:58:01 GMT -6
I heard on the NPR this morning that Calif April tax revenues are down 30% from a year ago, which was really bad. They used the excuse that April is real volatile.
GB
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