To: Pearls Before Swine
"Happy by the headline establishment survey print of 133,245 which says that the US "added" 163,000 jobs in July from 133,082 last month? Consider this: the number was based on a non seasonally adjusted July number of 132,868."
Took me a bit to make some sense out of the. The author might have taken a little time to add 000s to the appropriate numbers, that way the addition and subtract would see to work out.
Meanwhile, yes that was a large seasonal adjustment.
posted on 08/03/2012 6:29:53 AM PDT
(Nothing is sadder than to see a beautiful theory murdered by a gang of brutal facts.)
It would have been easier to read if he stated:
# jobs, not seasonally adjusted
-1,212,000 fewer jobs in July
After running -1,212,000 through 2 statistical tools: the Birth and Death model and seaonal adjustment
-1,212,000 becomes +163,000
posted on 08/03/2012 7:04:12 AM PDT
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson