Saturday, April 07, 2012

Faking Jobs Numbers Must Be Hard Work

The latest unemployment figures have finally (sort of) caught up to some semblance of reality.  The U.S. job picture is deteriorating because winter was warmer than expected and employers thus did much of their spring hiring early.  If the impetus to hire for the year has sputtered out already then the rest of the year will be one big fat disappointment.

Please note that hiring still isn't keeping up with population growth.  Job growth must average 1% per year just to keep up with population growth and we haven't dug ourselves out of the Great Recession's job deficit yet.

The bad jobs numbers don't surprise regular readers of Shadow Government Statistics.  John Williams' lone voice of sobriety provides investors with an excellent baseline for interpreting news.  We'd all be better off if the "official" numbers caught up with what used to be reality.