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My personal musings about anything that gets on my radar screen--heavily dominated by politics.

2004-08-07

Oh. . . Ouch

32,000? That's it--32,000. That's pretty disappointing, and rather inexplicable.

Combine that with the downward revisions of the May and June numbers, and the job growth--as measured by the payrolls--is not where you would hope it to be.

So, tell me: how did the unemployment rate drop to 5.5%?

And, given how the markets reacted to the good news a couple months ago--with a sell-off based on inflationary concerns--why did the market tank today?

And, I guess, on a more fundamental level, is economics actually a science? or do they just make this stuff up as they're going along?
Posted by: Michael / 8/07/2004 12:07:00 AM

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