Along with many others, I am pondering the latest employment numbers. Strong opinions are the norm.

Many are steadfast in their interpretations, some critically so, especially Bondad who blasted Zero Hedge in a scathing attack "No Rick Santelli and Zero Hedge, One Million People Did Not Drop Out of the Labor Force Last Month"

Does Bondad Have a Point?

The short answer is yes. I wonder if I escaped attack because of a statement in my post Nonfarm Payroll +243,000 ; Unemployment Rate 8.3%; Those Not in Labor Force Rose an Amazing 1,177,000 as follows:

Some of those labor force numbers are due to annual revisions. However, the point remains: People are dropping out of the labor force at an astounding, almost unbelievable rate, holding the unemployment rate artificially low.
Emphasis in red as written, not added.

I could have, and should have expounded on the first sentence, even though I stick with what I said in the second sentence.

Bondad is generally a good guy and he also has the coolest dog in blogosphere, even though we fundamentally differ on politics.

Meet Bondad's Dog "Weimar"



Zero Hedge replied in Explaining Yesterday's Seasonally Adjusted Nonfarm Payroll "Beat"

Does Zero Hedge have a point?

Yes, even though he is scrambling hard to make it.

Been there. Done that. It happens. No one is perfect, certainly not me.

Trim Tabs has Firm Opinion Too



BLS Data Skewed?

Based on federal income tax receipts Trim Tabs asks Is BLS Data Skewed?
Our estimate of a slowly growing economy is based primarily upon dai