A Real Scorcher
The US economy added more than half a million jobs in January, hotly anticipated government data released on Friday showed.
No economist out of more than six-dozen who ventured a guess was anywhere close. The highest estimate from 77 forecasters was 320,000. The 517,000 headline print nearly tripled consensus.
The release included a number of revisions. The establishment survey reflected the annual benchmarking process and an update to the seasonal adjustment factors. The household survey for
All things considered , we could start to use the words ‘soothsayer’, astrology chart reader’ , ‘goat entrails diviner’ instead of ”economists’ , and that would fit the reality equally as well.
After seeing this jobs report, I really wish the FED would have raise 50 bps.