Tuesday, March 17, 2015

Can US Gov't Payroll Data Be Trusted ???

Take a look at this report which suggests that federal gov't payroll data is a mountain of BS:


How can residential construction jobs be increasing, when housing starts are plunging?


And how can jobs data be indicating a strong recovery, when these 43 economic indicators indicate otherwise?

Personal Spending
Construction Spending
ISM New York
Factory Orders
Ward's Domestic Vehicle Sales
ADP Employment
Challenger Job Cuts
Initial Jobless Claims
Nonfarm Productivity
Trade Balance
Unemployment Rate
Labor Market Conditions Index
NFIB Small Business Optimism
Wholesale Inventories
Wholesale Sales
IBD Economic Optimism
Mortgage Apps
Retail Sales
Bloomberg Consumer Comfort
Business Inventories
UMich Consumer Sentiment
Empire Manufacturing
NAHB Homebuilder Confidence
Housing Starts
Building Permits
PPI
Industrial Production
Capacity Utilization
Manufacturing Production
Dallas Fed
Chicago Fed NAI
Existing Home Sales
Consumer Confidence
Richmond Fed
Personal Consumption
ISM Milwaukee
Chicago PMI
Pending Home Sales
Personal Income
Personal Spending
Construction Spending
ISM Manufacturing
Atlanta Fed GDPNow

Here's my theory:
  • Many of the so-called "illegals" were not reflected in past jobs data;
  • The feds are slowly adding them in; and
  • Their "newly discovered" presence is what is being shown as the alleged increase in residential construction jobs.

This would be a clever ruse, but how long can an economy last on nothing but lies?

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