Economy Adds 337,000 Jobs

[orwell]

Crossed the Bloomberg wire around a little while ago. I don't have the details but this is better than the market was expecting.

Unemployment ticks up to 5.5%

[bowens43]

1. production.......

'Comrades!' cried an eager youthful voice. 'Attention, comrades! We have glorious news for you. We have won the battle for production! Returns now completed of the output of all classes of consumption goods show that the standard of living has risen by no less than 20 per cent over the past year. All over Oceania this morning there were irrepressible spontaneous demonstrations when workers marched out of factories and offices and paraded through the streets with banners voicing their gratitude to Big Brother for the new, happy life which his wise leadership has bestowed upon us. Here are some of the completed figures. Foodstuffs-'

1984

[orwell]

4. Funny

Nice wiritng if I do say so myself... :)

[bowens43]

5. Somehow I knew you would like it

;-)

[Fovea]

2. There is no point in reading Pravda

Unless you want to try and filter out the truth from the rest of the news.

You think that suddenly this government is going to give you real numbers? Right.

We are PNAC occupied. You can fight, or you can escape while you can. Or, you can surrender. It begins when you decide to believe what a lifelong liar tells you is true.

[orwell]

3. No Doubt

There is no doubt that jobs were added. There is a significant amount of job creation directly related to the hurricane cleanup effort in Florida, some estimate about 70,000. This was predicted weeks ago by most economists.

There is a trememdous amount of construction activity where I live. You see it everywhere. As long as interest rates remain abnormally low, construction activity, especially in housing, will benefit.

Can the numbers be fudged? No doubt. But they are not created out of wholecloth. They are internally consistent from survey to survey, whether or not you agree with the methodology.