Friday, September 7, 2007

Jobs

Today's jobs report was pathetic.

Even with the very optimistic government statistics the economy lost jobs last month. The other day there was a retail sales datapoint that was very good. I suspect that particular report was more of an anomaly and that the economy is significantly slowing.

Added: I didn't notice this, but the new report also revised June and July employment significantly downward too. All in all, this report on jobs was disturbing.

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