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Friday, August 6, 2010

Employment Data... its not that bad

Do not listen to the head lines, especially the head line number, and see for yourself. (see breakdown, straight from the BLS)

Although the private jobs number was less than consensus (I believe it was around +80k, but the actual was +71k.), considering it is July (with July and August being the seasonally weak months) the increase is pretty good.

The good part of this report is not in the head lines. The hidden number is $772.58. This is the average weekly earnings. For this seasonally weak month, to get an increase from June, IMO, is quite good.

Today's numbers are not that bad. Still shows demand for employment hours.

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