­Employment Headline Hopeful – Ignore the Details at Your Peril

The big story of the week was the +263K jump in Nonfarm Payrolls, somewhat higher than the street estimate of 200K, now causing some pundits to say that a “soft landing” is now likely for the economy.  Unfortunately, the headline number is quite misleading.  The Payroll Survey is a survey of larger businesses and counts […]