[lbo-talk] employment

[Mark S]

Doug Henwood wrote:
>
>Mark S wrote:
>
>>However, Citigroup commented that the payroll report is not useful for 
>>understanding economic developments outside labor statistics.
>
>Did they really? That's silly. I'm sure few retailers below the Tiffany 
>bracket would agree.
>
I wasn't clear.  I believe that they were alluding to the revisions that 
occur in the series: "Today's data should remind observers that seasonal 
distortions and errors in measurement can drive the bulk of the 
month-to-month variation in employment." They think that Easter messed up 
some earlier seasonally-adjusted indicators, including jobless claims.  Many 
trends are looking better - for now.

M.

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