Why
Today's Employment Number is FALSE
Todd Stein & Steven McIntyre
The Texas Hedge Report
Jul 8, 2005
Snippet Courtesy of www.texashedge.com
This morning, the financial
press cheered the news of 146,000 jobs created during the month
of June. But a look behind the numbers shows that jobs may actually
have been LOST during June.
According to the US Dept of
Labor (http://www.bls.gov/web/cesbd.htm),
184,000 jobs were created out of thin air and labeled as net
new businesses during June. In fact, over half of the jobs created
in 2005 have been derived from this new business 'birth/death'
model.
Although it is not a straight
apples-to-apples comparison, it looks like the real June employment
number should be a LOSS of 38,000 jobs. (146,000-184,000)
more follows for subscribers
. . .
Jul 8, 2005
Todd Stein & Steven McIntyre
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Texas Hedge Report
Todd Stein
& Steven McIntyre
email: admin@texashedge.com
For more information, go to http://www.texashedge.com.
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