AdamT
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At 8:30 this morning BLS will release its monthly jobs report which has the potential to impact next Tuesday's election. If the report is good, Obama partisans will use it make the case for the president's reelection, and if it's bad Romney partisans will argue that it proves Obama's policies have failed. The press, of course, will eat this up and propogate whichever story line the numbers support.
This is a shame because these INITIAL reports are all but meaningless. They have an enormous margin of error which can and often does result in huge revisions (they are revised twice as more data comes in). The actual number could be as much as 100,000 higher or lower than initially reported.
ADP and Gallup have published some pretty good numbers for the economy (and thus Obama), but we shall see what the BLS bombshell delivers....
Final jobs tally: Statistical quirks and political spin - Patrick Reis - POLITICO.com
U.S. Unadjusted Unemployment Down to 7.0% in October
This is a shame because these INITIAL reports are all but meaningless. They have an enormous margin of error which can and often does result in huge revisions (they are revised twice as more data comes in). The actual number could be as much as 100,000 higher or lower than initially reported.
ADP and Gallup have published some pretty good numbers for the economy (and thus Obama), but we shall see what the BLS bombshell delivers....
Final jobs tally: Statistical quirks and political spin - Patrick Reis - POLITICO.com
U.S. Unadjusted Unemployment Down to 7.0% in October
