There is one major problem, for the administration at least, when it comes to presenting labor data that is not "compiled" by the Bureau of beLabored Statistics and its Bank of Spain-endorsed Arima-X-13 seasonal data fudging program: it reflects realty, not statistical or seasonal adjustments, and certainly can not be skewed this way or that depending on what best suits the incumbent presidential candidate two months ahead of the election. Which is why one won't read anywhere that one of the most reliable indicators when it comes to real time hiring data as reported by the actual job market and not by some conflicted, data challenged organization which on top of everything has data leak issues, namely Help Wanted ads just plunged by the most since the Lehman collapse.
Because while the ECB's disappointing announcement tomorrow will come and go, and the market may rise or fall, depending on how much accrued inflation and money printing is used by Draghi to push stocks higher, and sovereign bond yields of insovent countries lower, absent any of these monetary channels resulting in actual economic improvement (and as a reminder the central banking monetary transmissions pipelines have been clogged for a long, long time courtesy of... central planning), all of it is for nothing.
And all of it may be indeed be for nothing if the reality presented by New Help Wanted ads plunging by a whopping 325,700, or the most since February 2009 in the past two months, is allowed by the BLS to penetrate the facade of made up NFP reporting.
From Credit Suisse: Please click here to read the article in full
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