Friday, August 07, 2009

US Payrolls Less Than Meets The Eye

In today's Lunch With Dave Dave Rosenberg shows how US Payrolls Less Than Meets The Eye.

Today’s employment report is being treated as a ‘green shoot’ of major proportions. While it was by far the best jobs performance of the year, much of the better-than-expected tally in nonfarm payrolls reflected the bounce in auto production as well as the distortion from the federal census workers. Combined, these two influences effectively “addedâ€