Friday, May 6, 2011

Wall Street Has a Pollyanna Complex!

So let me get this straight.
Micky D's -- +62,000 jobs
Birth/death assumption -- +175,000 jobs (NOT real jobs -- ASSUMPTIONS)
BLS -- +244,000 (included birth/death assumptions)
Grand total net jobs from private sector less McD's -- +7,000 (and that's for an entire MONTH?)
Household Survey -- -190,000 (that's MINUS 190k)
Meanwhile, U-6 showed that unemployment worsened to 15.9%.

Shouldn't we just change BLS to just "BS"?
But Dow stock futures jump 150 points! Where's the good news I missed?
Wall Street has a Pollyanna complex!