Jobs Report: "This is just getting stupid"

It's Thursday, and you know what that means. It means we turn to Tyler Durden at ZeroHedge to decipher the weekly jobs report.

 

This is just getting stupid. After expectations of a rebound in initial claims from 367K last week (naturally revised higher to 369K), to 370K (with the lowest of all sellside expectations at 355K), the past week mysteriously, yet so very unsurprisingly in the aftermath of the fudged BLS unemployment number, saw claims tumble to a number that is so ridiculous not even CNBC's Steve Liesman bothered defending it, or 339K.

Ironically, not even the Labor Department is defending it: it said that "one large state didn't report some quarterly figures." Great, but what was reported was a headline grabbing number that is just stunning for reelection purposes[:] This was the lowest number since 2008.

The only point to have this print? For 2-3 bulletin talking points at the Vice Presidential debate tonight. Everything else is now noise.

It is also sad that the US "economy" has devolved to such trivial data fudging on a week by week basis, which makes even the Chinese Department of Truth appear amateurish by comparison.

Needless to say, Not Seasonally Adjusted initial claims jumped by 26K to 327K in the past week but who's counting.

Finally, what is the reason for ongoing QEternity if the employment situation is now back to normal?

Finally, in completely ignored news, because who needs global trade when you have toner cartridge, and generally ink, the US trade deficit in August rose by 4.1% to $44.2 billion, on expectations of a deterioration to $44.0 billion. Then again nobody talks about the US trade deficit during presidential debates so all good here.

 

Yeah. All good. 

Comments

[Mannie Sherberg]

Astonishingly, without fanfare or flourishes, one of the 57 states seceded from the Union yesterday. I can hardly wait to find out which one, since I'm curious to know what the new map of the remaining 56 states will look like. If it turns out to be my own state of Missouri, that will leave a gaping hole in the middle of the mainland states, which will present us with a weird-looking map. Personally, I hope the seceding state was either Hawaii or Alaska, as this will leave the mainland map intact. As someone who's always had an interest in cartography, I find all of this very worrisome, so I hope the administration quickly divulges the name of the seceding state. In the meantime, I'm happy to see the improved unemployment number. Now if only a few more states secede, we'll soon be singing "Happy Days Are Here Again." Can't wait!