SPOT THE RECOVERY …
Private payroll processor ADP released its monthly jobs report this week – concluding the economy created 139,000 new positions in February. That’s below the 155,000-job expectation, but as our friends at Zero Hedge have noted – that’s not the real story.
The real story? The lack of reliability of this number in light of a spate of downward revisions to prior jobs data.
“Don’t worry: the number was pre-spun for idiot consumption,” the website reported, noting that data was revised downward for January (175K to 127K), December (227K to 191K) and November (289K to 245K).
Spotting a trend there?
“February was another soft month for the job market,” ADP noted. “Employment was weak across a number of industries. Bad winter weather, especially in mid-month, weighed on payrolls. Job growth is expected to improve with warmer temperatures.”
Ah yes … happy days are just around the corner!
Viva la recovery!!!!
We’re sure a few warm weeks will turn everything around, right?
What: You mean the media’s economic “EXPERTS” creating the data reported a more optimistic number than reality???…
I can’t believe happened under the Obama Administration. Is that a first???….LMAO….
despite one of the most prosperous periods under any president in American history
preposterous.. I fixed that for you.
We had >5% unemployment and <4% growth for most of his tenure till you DIMs took over on 06 and shot it all in the a$$.
It was a cosmic reaction to putting the war on the credit card, H1 visas, exporting jobs and the worthless derivative casino? God punished the Democrats for the sins of the Republicans?