The Unemployment Surprise

by John Mauldin, Millennium Wave Advisors
Gold Seek

The unemployment number surprisingly dropped to 7.8% last Friday, and the shoot-from-the-hip crowd came out in force. To say that the jobs report was met with skepticism would be a serious understatement. The response that got the most immediate airplay was ex-GE CEO Jack Welch (who knows a few things about making a number say what you want it to say) tweeting, “Unbelievable job numbers … these Chicago guys will do anything … can’t debate so change numbers.”

Not be left out, Fox Business quoted Ed Butowsky of Chapwood Capital Investment: “‘No way in the world these numbers are accurate,’ he said. ‘Somebody needs to do an investigation…. Investigate these numbers.’”

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