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Ignore the Media’s Negative Take on Jobs: The Economy is Strong

Over the last couple of months, I have indicated that, because the seasonal adjustment process cannot handle significant weather deviation issues, the first quarter reported data (.1% Real GDP, for example) significantly understate the underlying strength of the economy.  Friday’s Establishment Survey (ES) employment report gave credence to that view.  Not only did April’s newly created jobs come in at 288,000, way above expectations (218,000), but February and March were …Read More