“Davidson” submits:
US Employment is reported higher with 254,000 the Establishment Survey and 430,000 for the Household Survey. Past Establishment reports were again revised lower. Government employment continues to soar supporting suspicions that these numbers are being padded and manipulated. With data adjustments of recent months and the high rate of hiring for government positions the confidence in government data is waning in my opinion.
Establishment Survey comment:
“Total nonfarm payroll employment increased by 254,000 in September, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in food services and drinking places, health care, government, social assistance, and construction.”
