The January unemployment report is due out this Friday, and some are predicting negative news, mostly because of an annual adjustment for jobs “miscounted” last year. I heard the figure 824,000 being tossed about today, as in we really lost 824,000 more jobs last year than reported. My favorite term in these reports has become “unexpectedly,” as in, “the numbers increased unexpectedly.” Or, “the numbers were higher than experts expected.”
After a while, you have to wonder who in the heck these so-called experts are, and why are they always surprised by the results? As for the miscounted jobs, well, personally I don’t think this is a real surprise to anyone. I think these numbers were intentionally suppressed to keep unemployment hovering around 10%. I doubt that would be unexpected.
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