Cookin’ the books? … About those pesky seasonal adjustments to the Fed’s employment numbers …

Earlier this week, we blogged about the “interesting” difference between Team O’s job gain claim:

The Labor Department reported that the economy gained 243,000 jobs.

But, the BLS  also reported that the economy lost 2,689,000 jobs in the month

The difference in the two numbers is in seasonal adjustment.

Here’s an interesting tidbit that I haven’t seen reported: the January seasonal adjustment factor mysteriously crept up from the factor that was used in January 2011 … with the effect of increasing the number of seasonally adjusted jobs reported.

As Gomer Pyle would say: Surprise, surprise, surprise …

 

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Source: BLS

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