You know the drill: Today is the data release for August Non-Farm Payrolls, and I once again am taking the Under.
Consensus expectations are for 190,000, with the range between 110,000 to 235,000.
The Birth/Death adjustment last August was a chunky 123k — so perhaps the Under is a loser this month. Regardless, my econometric modeling is reality based, so regardless of the final BLS data point is — I’m expecting only modest job creaton.
BTW, the BLS is not a case of garbage in/garbage out — its the bias embedded in their processes that turns good data into something less than useful — not their data sources . . .
