Crystal Balls and “Feelings”

August 6, 2010

The Wall Street Journal “Ahead of the Street” this morning reported “Investor’s won’t pay much attention to the headline figure, expected to show a loss of about 60,000 jobs…unemployment rate, expected to rise to 9.6% from 9.5%…Rather they will zoom in on private-sector job growth…Economist expect a gain of 100,000, although there is a feeling the figure may beat this forecast.”

Actual results:

Payroll shrinks by 131,000 (vs. 60,000)
Unemployment 9.5% (vs. 9.6%)
Private-Sector 71,000 (vs 100,000 + beat forecast)

So much for crystal balls and “feelings.”


%d bloggers like this: