January Job Creation [View All]

[tritsofme]

I was just looking over which economic reports come out in the next week, and on Friday we get January non-farm payrolls and the UE rate.

I couldn't help but notice the "consensus" of economists is that we created 180,000 jobs in Jan. I don't know if its just me, but for the past two months they have bet extremely high, and come way short.

For November I think they were shooting for 150k, and they got 50K.

And of course we all remember December where they made the big bet of about 150K again, and we got a whopping 1,000!

Now what would make these "economists" who have been so horribly wrong the past few months, bet so high again? Wouldn't it make sense after a few disappointing months to make a moderate bet?

Maybe its just me, but I don't remember January being a particularly good month in terms of job creation. It seems to me that these people have their stuck quite far into where the sun don't shine and its not coming out anytime soon.

*edited to say 600 posts woohoo*