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Friday, January 7, 2011

Jobs report looks good, analysts look stupid

This morning’s Washington Post reports that 113,000 jobs were added to the economy last month, which was less than analysts expected but which was enough to force the unemployment rate downward from 9.8% to 9.4%. Click here to see the report.

Implications: I wish I knew who the analysts are… they never seem to be mentioned by name. Maybe this is good news, and perhaps “the analysts,” whomever they are, are simply bad forecasters.

Mike Anderson

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