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Monday, June 06, 2011

Jobs Report OVERSTATES Jobs Numbers.

From Art Cashin:
Final revisions of estimates from the pundits had a consensus of maybe 120,000 or 160,000. Instead, the headline number came in at 54,000. Making that number even more amazing was that it might have contained 30,000 to 40,000 hiring’s by McDonald alone. Worse yet, the BLS appeared to have thrown in 206,000 jobs from it Birth/Death estimates. (Where did they go?)
To repeat, McDonald burger flipper jobs represent more than 55% of the jobs reported AND THE BLS MADE 206,000 JOBS UP OUT OF THIN AIR! 

Without the Birth/Death "estimates" the economy actually LOST jobs.

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