Saturday, July 6, 2013
The statistical recovery
Once again a great labor report sent capital flowing from around the world into the US stock market. The Dollar soared. Gold plunged.
Over the last five months the US has averaged 178,000 jobs per month. 145,000 of those jobs appeared in no survey, were reported by no employers, but were simply added into the figure by government bureaucrats who decided based upon theoretical models to add those figures to the survey numbers.
In other words the US economy is averaging job gains of 30,000 verifiable jobs a month.