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Funny Numbers Too



Yesterday I illustrated how "funny" government statistics can be. Here's another example.

This morning the government reported that the change in non-farm payrolls for the month of November was 57,000; expected was a much higher 150,000.

We calculated that there was probably a shortfall of 20,000 to 25,000 jobs due to strikes. So at best, 80,000 jobs were created last month, still half of what was expected.

But wait. Did you know that the government just assumes, with no proof from data, that 50,000 jobs are created when the economy is not in recession? And did you know that of the jobs that were created, 25,000 were temporary?

Add it all up and you have no proof that any permanent jobs in November were created.

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