Posts Tagged ‘model’

Notes From Underground: Yellin is Yelling while Bernanke goes behind closed Senate doors

January 9, 2011

The unemployment number on Friday was tepid relative to consensus. The ADP data on Wednesday raised Wall Street’s “animal spirits” and ramped up expectations of a NFP number of more than 200,000. Hours worked and average hourly earnings were also soft. The outlier on the data was the UNEMPLOYMENT RATE which dropped to 9.4 percent from 9.8 percent. Soon after the report was released, an avid reader, ASA, pointed out a piece on ZERO HEDGE, that analyzed what an aberration a 103,000 job gain is in relation to such a significant drop in the rate of the unemployed.