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

2005-01-08

157,000 Isn't Chopped Liver, Either

The U.S. economy created 157,000 new jobs in December, slightly fewer than expected, but more jobs were created in each of the two prior months than previously thought, the Labor Department reported on Friday. (from FOX)

Once again, though, economists make up a reading of this to be slightly negative. Anybody notice the inherent inconsistencies in the next paragraph?

The December jobs figure came in below Wall Street economists' forecasts for 175,000 new jobs. However, it followed upwardly revised totals of 137,000 jobs in November and 312,000 in October that previously were reported as 112,000 and 303,000 respectively.

So in the same breath that we're saying December was bad because it was 18k short of expectations, we're also reporting that we were wrong about October and November by 25k and 9k, respectively.

Economics cracks me up. THIS qualifies as a science?
Posted by: Michael / 1/08/2005 01:11:00 AM

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