Job numbers were TWICE as good as expected? Are they fake?

$SPX closed near high of the day's range, but below Thursday's close and barely above the prior Friday weekly close. Not very bullish at all.
 
klattermusen said:
Job numbers were TWICE as good as expected? Are they fake?

"The 528,000 jobs added were more than double the expectations of many seasoned analysts including at Goldman Sachs, where economists had estimated nonfarm payrolls to rise by 225,000 in July."

I ask because canada had job numbers too and there's were worse then expected.

Could the usa job numbers have been skewed and misrepresentative due to seasonal workers and part time workers pumping up the raw job figures to make it appear better then expected?

Now the market reaction was fascinating. First the market sold off huge pre-mkt when the numbers hit the tape. Then at the open the buy the dippers swooped in causing a squeezing. An hour later it sold off and almost looked like a bull trap but then flipped to overdrive again.

If the numbers are real then the market should have continued to sell off because it's bad for indexes since the Fed can freely raise interest rates (because the fear of hurting employment growth is gone).

But the market closed towards the high of day. Which leads me to think that the market is seeing thru the possibility that (back to my topic) that the job numbers are indeed bullshit. And if so we should indeed be buying the QQQ's and SPY since the fed may peddle softer raising interest rates.


https://www.aljazeera.com/economy/2022/8/5/what-the-blowout-us-jobs-numbers-actually-mean
More...
It is whispered that many corps fired emps to rehire them at lower wages.
 
klattermusen said:
Job numbers were TWICE as good as expected? Are they fake?

"The 528,000 jobs added were more than double the expectations of many seasoned analysts including at Goldman Sachs, where economists had estimated nonfarm payrolls to rise by 225,000 in July."

I ask because canada had job numbers too and there's were worse then expected.

Could the usa job numbers have been skewed and misrepresentative due to seasonal workers and part time workers pumping up the raw job figures to make it appear better then expected?
More...

Do you folks lack imagination? And experience from the past?
Midterm elections lie ahead!...
Does it now make "click"?... :D

The Corrupt Govt needs some "success" numbers!...

cat_stats.jpg
 
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earth_imperator said:
Do you folks lack imagination? And experience from the past?
Midterm elections lie ahead!...
More...

It would make no sense for the government to release fake numbers 3 months before the election. They would either have to continue the fakery for 3 more months before the elections, or worse show declining job numbers just before the election. If these surprise job numbers had come out on November 4th, 4 days before Election Day, you would have a stronger case.
 
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DaveV said:
They are not fake, but that does not necessarily mean they are accurate. They will be revised twice in the next two months as better data comes in, then we will see how accurate they really were. For a really good explanation of job number accuracy see:
https://projects.fivethirtyeight.com/jobs-report-growth-unemployment/
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%%
Good read;
that +I never trust any big gov\ talking snake media in an election year or most anytime.
NPR does the talking snake + says a recession is not 2 quarters of declining growth.
They count anybody as looking for job as employed ;
that maybe a grain of truth, its a bit of work \to job interview collecting unemployment.:caution::caution:
Most prices are not fake, even though some errors occasionaly occur .
 
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