Seeking Alpha
  • Cabeza Howe
    $SPY $DIA $QQQ Actual data said we lost 1.113M jobs in July; but statisticians said we created 162K jobs after seasonal adjustments.
    8/2/13
    Reply (10)
    • Cabeza Howe: Don't take me wrong. I'm optimistic about payroll improvement and U.S. economy. But why do we need the statisticians to make numbers up?
      8/2/13
    • weed: Because the metric is the only thing that matters.
      8/2/13
    • Cabeza Howe: You would do better to use a YoY comparison than relying on any artificially manipulated data, unless you like to be lied to.
      8/2/13
    • Cabeza Howe: We should have let citizens know that since 1951 we have never actually created jobs in July. And -1.113 million jobs in July is OK.
      8/2/13
    • Cabeza Howe: Actually you have to go back to 2005 to find a July month that has fewer than 1.113M jobs lost. Last July we lost 1.188 jobs --
      8/2/13
    • Cabeza Howe: so YoY we lost 75K fewer jobs. Not a bad July at all. But to tell people that 162K jobs were created in July is a total lie!
      8/2/13
    • Cabeza Howe: And then we also had this: in March we created 818K jobs but they said we only created 142K, giving bears opportunity to spin.
      8/2/13
    • Cabeza Howe: Imagine GM, GE, AAPL shifting their revenue numbers from month to month in the name of seasonal adjustment. SEC will be prosecuting them!
      8/2/13
    • Cabeza Howe: Another month we always have jobs lost is January. You can't find a single Jan. that has jobs created in Fed's database. -2.856M Jan. 13.
      8/2/13
    • Cabeza Howe: So each Jan. and July I couldn't help sniffing when Uncle Sam and the media talk about how many jobs were created.
      8/2/13