These look pretty bad to me on all fronts: job creation of 92k is pretty pitiful with the continued loss in manufacturing and construction; and even worse the wage component came in higher than expected. Looking more and more like stagflation. I do like how they revised all the numbers upward to get the unemployment rate down, that's what W will be out touting for the next three days. It is such a worthless and rigged number I cannot believe it hasn't been exposed for the sham it is. I heard if an unemployed person has been on claims longer than 6 months he/she is taken of the list for being out of the labor pool. Great numbers!
Everything is great in the land of perfect, please vote republican hahahahaha what a scam. Bush will soon be on the air telling everyone how great thins are just give him a minute to get ready.
unbelievable, 92k is crap so they fudge the unemployment rate by revising previous stats so people will focus on the 4.4% unbelievable people still believe US stats :eek:
not to mention that was a prefect place to paint the charts..........all indicies sitting on their daily trendlines.............yesterdays price action dictated accumulation off the lo`s........i tried the same but kept getting stopped within a tick or two even though there was absolutely nothing to fear.....i beat myself yesterday without a doubt.
These numbers were a complete joke, did anyone see the revisions in September, from 51,000 to 148,000. Are these people doing their job right. After seeing a revision like that I have no clue why anyone would pay any attention to these numbers that are so highly regarded on wallstreet. To have any revision of that magnitude makes you think these numbers are just entirely manipulated. Those revisions dropped unemployment numbers to levels not seen since 2001. I dont think the job number today is even correct, they may revise that to 220,000 next month. Quite pathetic if you ask me.
exactly, do we remember what happened on that day and what would have happened had the number been 148,000 instead of 51,000? The 51,000 number at the time was perfect. It placated fears of Fed hikes. Now, they need numbers that show there is no recession around the corner so they fudge the unemployment rate. Depending on the fears prevailing at the time of the report, they fudge it.
Continued good-bye to 20 bucks an hour. Hello to 10. Economy is not sustainable with this continueing trend towards third world wages.
Agree, market seems to love the number, amazing isnt it. You would think those guys who get paid millions of dollars a year to predict which way the economy moves would notice how fudged these numbers really were, but it doesnt matter. As they say "trade what you see".