Morgan Stanley Warns 42,000 “Jobs” Bogus Due To Seasonal Quirk

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Enamored with the 200,000 number? Don’t be – the reason why the market has basically yawned at this BLS data is that as Morgan Stanley’s David Greenlaw reports, 42,000 of the 200,000 is basically a seasonal quirk, which will be given back next month, meaning the true adjusted number is 158,000 (and most of this is probably bogus also).

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