Consumers not fooled by gov’t. stats

Look, I already explained this to you several times. There really weren’t 243,000 new jobs created during the first month of the year. But there were 2.68 million jobs lost. The positive figure was derived solely from favorable seasonal adjustments. Or, as Calculus99 wrote on CNBC.com: “Perhaps the reason why the consumers are feeling gloomy is because they don’t see the jobs that the statisticians tell everyone are being created.” Now you understand. But it’s going to get trickier. In a normal year, the economy picks up statistically in the spring and then swoons in the summer. This year — because the seasonal adjustments are getting botched and the weather this winter has been warmer than usual — there might actually be a dip in economic activity this spring. That’ll make the nine months leading up to the election a whole lot more interesting for all involved.

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