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Each month’s employment report grows increasingly bizarre. First, the government suddenly discovered 800,000 Americans who were employed yet the Feds somehow missed them. The details on that still haven’t been released.

Today we’re told that the nonfarm payroll number for August was revised higher by 42,000. The number for September was adjusted higher by 139,000. Plus, the economy added 132,000 new jobs last month. Add it all up, and the unemployment rate for October is now down to 4.415% which is lower than it was eight years ago.

I’m not sure why anyone pays attention to these numbers. I don’t see any value in them.

Posted by edelfenbein at November 3, 2006 10:56 AM