This is getting silly. The bigger the unenjoyment number, the bigger the rally. Countdown until Maria says (for the 1000th time in this bear market): "you gotta like this market rallying on bad news. at some point you've got to say its priced in" Pathetic. Fade the hell out of today's rally. Fade it again on Friday.
Market is making decade lows. Give it a little room to bounce back before you jump to fade it. This is a perfect chance for a short cover/bottom picker rally. I hope we see a nice pullback to 7500-8000.
Did anyone notice that they revised their previous number up by almost 100,000? If we apply the same factor, then next month they will revise up to over 800,000.
Good catch. I'd like to get an explanation as to how these mistakes, which are always understating unemployment, aren't intentional.
Seems like everyone does it all the time now, and no one notices or comments. Like the GDP. It was revised from -3.8% to -6.2%. I just saw an article this morning that was still using the 3.8%.