Friday, October 5, 2012

Jobs Report Met with Skepticism | The Weekly Standard


Jobs Report Met with Skepticism | The Weekly Standard: Douglas Holtz-Eakin, a former economics adviser to John McCain and the former head the Congressional Budget Office, calls the numbers "implausible."

"Sept. unemployment rate fell to 7.8 percent due to an extraordinary – but implausible – estimate of 873,000 #jobs in household survey,” said Holtz-Eakin on Twitter.

“The report presented a slew of contradictory data points, with the total employment level soaring despite the low net number,” said CNBC's Jeff Cox.

The Washington Post's Neil Irwin adds, "Weird that payrolls are exactly on forecast but household survey is far better."

And the Wall Street Journal warns that these numbers should be taken "with a grain of salt."

READ REPORT HERE

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