John Crudele points out that Thursday could be pretty interesting.
Thursday is Oops Report time.
That’s when the Labor Department
will tell us if it has been correctly tabulating the number of jobs in
this country. Or, more precisely, it will tell us how much it has erred
in the reporting of the job market.
My guess is that the department has over-counted jobs by several hundred thousand.
...
The biggest fudge factor in the monthly employment report that everyone
watches is a guesstimate for newly formed companies that Labor can’t
count but assumes exist. So in almost every month Labor adds a generous
number of jobs to its report for these possibly nonexistent jobs.
...
The figure on Thursday will correct the March 2011-to-March 2012 count.
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