> This morning's U.S. employment report showed a gain of 1,000 jobs in
> December, which sucks.
I was wondering -- is there any chance this is because the seasonal adjustment figure needs re-adjustment? That retailers didn't hire as much seasonal help as past trends would indicate?
I didn't see even permabulls mentioning this option, so I was wondering if there was something that ruled it out. Perhaps because even at the maximum, it couldn't account for 150,000 missing jobs?
Lastly, is the household survey figure for employment seasonally adjusted? I always assumed it was, but it's so different I was wondering.
Michael