Sunday, January 10, 2016

Unadjusted jobs, total from BLS

A lousy graph from Open Office. Unadjusted job totals for each month since 2005.  I think I have it right.  We can see the seasonal adjustment needed, quite clearly from month 60 until today.  But check out what happens at month 50.  The sudden collapse, the seasonal coefficients would be crap those months, during the crash.

Jobs are the recession.  When they drop, suddenly, then  the economy has already contracted, all the coefficients are then in error.   So January reports an unadjusted Christmas layoff, but it seems quite large, is it larger than  the typical Christmas layoff?

However, it does seem that Q4 is mostly off the table, unless the unadjusted survey had some grevious error.

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