The January nonfarm payroll number was 130.27 million — a figure first reached in October 1999. That’s right! The fabled American job machine has come to resemble nothing so much as Cisco’s stock price. For the last 12 years, the nonfarm job count has been revisiting the same point over and over again, and each time it crosses from below Wall Street economists put on their best John T. Chambers imitation and whoop it up for job growth.
http://dailycapitalist.com/2011/02/08/why-the-january-jobs-report-is-alarming/
Comments