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I’ve observed the market reaction to the employment numbers released today and am truly disappointed.
Preliminary review says that unemployment dropped to below 10%. That’s good. But the market acts as if it is suspicious of that number. By my back-of-an-envelope calculations I can’t see these numbers to be true either.
Could someone explain to me, without manipulation of the data, that this could be true? I’ve seen these figures massaged before and don’t believe them now. The more important question, do you?
*Additional editorial note: Do you remember this?
Same Unemployment Insurance Misreporting, Different Day: Initial Claims Down 22,000 As EUCs Surge Almost Two Hundred Thousand | zero hedge
