XJO - Bear Posts only (Factors which might cause the markets to fall), page-18111

Here is some background on how employment data is collected.

Employment data is gathered via a random sample of 142,000 of businesses & govt agencies.

According to BLS, Current Employment Statistics survey includes a random sample of about 142,000 businesses and government agencies. All sizes of businesses are included, with companies with fewer than 20 employees accounting for about 41% of the entities surveyed. Participating companies are asked to provide data for the pay period that includes the 12th of the month.

When you look at the revisions from the random sample of suveys the discrepencies are quite small considering the initial suvey is a random.

The downward adjustments were limited to the private sector, with nearly half in the professional and business services industry (revised down by 358,000, or 1.6%.) Other sectors showing large negative swings included the information industry (down 68,000, or 2.3%), leisure and hospitality (down 150,000, or 0.9%) and manufacturing (down 115,000, or -0.9%).

To that end, “this is really just a counting issue” and a measurement issue versus a red flag about the health of the labor market, Torsten Slok, chief economist at Apollo Global Management, told CNN.“160 million people have a job,” Slok said. ”Telling me that over the last 12 months it wasn’t 160 million, it was only 159.2 million is not making too much of a difference to how the Fed and financial markets are thinking about the economy.”

Perhaps the person who coined the term "Fake news" Donald Trump (very similar to terms used by Adolf Hitler in his autobigraphy Mein Kampf "the lying press" or the "big lie") always said the Obama job numbers were "phony numbers" ? But soon changed his tune "jobs jobs jobs" once elected ?