July BLS Full of More BS

Zero Hedge:

Happy by the headline establishment survey print of 133,245 which says that the US “added” 163,000 jobs in July from 133,082 last month? Consider this: the number was based on a non seasonally adjusted July number of 132,868. This was a 1.248 million drop from the June print. So how did the smoothing work out to make a real plunge into an “adjusted” rise? Simple: the BLS “added” 377K jobs for seasonal purposes. This was the largest seasonal addition in the past decade for a July NFP print in the past decade, possibly ever, as the first chart below shows. But wait, there’s more: the Birth Death adjustment, which adds to the NSA Print to get to the final number, was +52k. How does this compare to July 2011? It is about 1000% higher: the last B/D adjustment was a tiny +5K! In other words, of the 163,000 jobs “added”, 429,000 was based on purely statistical fudging. Doesn’t matter – the flashing red headline is good enough for the algos.

Go see the charts they posted. Also, there is more here.

Summary:

 

More reactions –

About ladyliberty1885

A.P. Dillon resides in the Triangle area of North Carolina and is the founder of LadyLiberty1885.com. Her current and past writing can also be found at IJ review, Da Tech Guy Blog, Heartland Institute and StopCommonCoreNC.org. Her current writing project is a children’s book series.
This entry was posted in Economy and tagged , . Bookmark the permalink.

2 Responses to July BLS Full of More BS

  1. Pingback: The Morning Links (8/6/12) | Lady Liberty 1885

  2. Pingback: The Adam Smith Apology Video | Lady Liberty 1885

Comments are closed.