Replies to post #157438 on Zeev's Turnips Patch-No Politics (ZEEV)

[federal reserves]

Tonka> Job shuffle.

257,000 people were removed from the "workforce". Temp labor in business sector growing, mfg still in decline.

In my mind the drop in real wages is signficant. Wages aren't keeping up with inflation now. Could be a new trend.

[punkle]

Tonka, that was a DOWNWARD revision of 145,000 jobs so they actually lost 145,000 jobs, they didn't find them:

Benchmark Revisions to the Payroll Survey /
/ /
/ In accordance with annual practice, the Bureau of Labor Statistics /
/ has completed preliminary tabulations of the universe counts for the /
/ first quarter of this year. The tabulations indicate that the estimate /
/ of total nonfarm payroll employment will require a downward revision of /
/ approximately 145,000, or one-tenth of one percent, for the March 2003 /
/ reference month. The historical average for benchmark revisions over /
/ the last 10 years has been plus or minus three-tenths of one percent. /
/ BLS will publish data revised to the March 2003 benchmark on February 6,/
/ 2004, with the release of data for January 2004. Previously, the re- /
/ vised data were published in June of each year; earlier receipt and /
/ tabulation of the benchmark source data now make it feasible to accele- /
/ rate the publication date to February, beginning in 2004.

[gloe]

thanks to punkle for the warning

http://www.investorshub.com/boards/read_msg.asp?message_id=1516372

gloria