|
Massive Beat? Not So Fast - Morgan Stanley Warns 42,000 "Jobs" Bogus Due To Seasonal Quirkby Tyler DurdenZeroHedge Jan. 06, 2012 |
Popular 
Chris Rufo Discovers Who is Flooding The Small Town of Charleroi, Pennsylvania With Haitian Migrants
WATCH: New Film 'Atrocity Inc' Exposes How Israel Lied About October 7th to Justify Genocide
Biden on Netanyahu: "He's a F--king Liar"
Netanyahu: Trump Called to 'Congratulate' Me On War With Hezbollah
Israel Jails American Journalist for Reporting on Damage from Iran's Strikes [UPDATE]
 Enamored with the 200,000 number? Don't be - the reason why the market has basically yawned at this BLS data is that as Morgan Stanley's David Greenlaw reports, 42,000 of the 200,000 is basically a seasonal quirk, which will be given back next month, meaning the true adjusted number is 158,000, essentially right on top of the expectation. From David Greenlaw: "some of the strength in this report should be discounted because of an seasonal quirk in the courier category of payrolls (Fed-ex, UPS, etc). Jobs in this sector jumped 42,000 in December, repeating a pattern seen in 2009 and 2010 (see attached figure). We should see a payback in next month's report."  
|
