The Unemployment picture from Bill@Calculated Risk, and what it may have done to the DOW this morning.

[mEDITate-OR:
not wonder if Bill@CR actually did not impact the DOW this morning...
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Here is what Bill@CR said:
the BLS survey reference week includes the 12th of the month (the 2nd full week of July), and
that was before the economy froze up due to the D.C. debate,
and also before the European crisis really flared up again.
That might be why this report was a little better than expected.
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Here is what Wall Street did:
Stocks erase early gains,
with the Dow falling as much as 65 points
after being up more than 170 points at the open.
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What makes this so very interesting is not only did Bill point out that THIS public opinion survey was conducted BEFORE this weeks bad news, but it was probably distorted, badly, as a result.
What than happened is Wall Street opened heading way up.
Shortly after Bill@CR's first post, with this warning...
the Dow dropped back like a rock.
Bouncing around all day...
trying to figure out whether Bill was correct, and what that meant.
Bill did not bother to clarify for them -
what they should be thinking:)
So, they didn't know what to think.
Nether do we - Bill, them, me and the rest of U.S.
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As they say in Loss Vegas:
"Better luck next time."
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And, now, for something that is never, ever different...
The Best graphs and charts in the whole world !!!
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Here are the earlier employment posts (with graphs):
• July Employment Report: 117,000 Jobs, 9.1% Unemployment Rate
• Employment Summary, Part Time Workers, and Unemployed over 26 Weeks
• More Employment (Duration, Education, Diffusion Index)
• Employment graph gallery
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