In my opinion, the employment data released today is ludicrous. I do not believe it. The BLS reports -11,000 and the unemployment rate dropping from 10.2 to 10. The ADP report shows -169,000. I now believe the BLS numbers are being cooked for political reasons. In the past I wrote that the BLS was removing too many people from the labor force in order to make the numbers look better and that has only continued. November’s real numbers are far closer to what ADP reported.
Here is the updated chart showing the market going up as unemployment also goes up, and stays up.
Tags: Economy, Government, Investing, Unemployment