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Weekly Market Pulse: A River In Egypt
When the June employment figures were released last month I said there was likely a seasonal adjustment problem with the numbers and that a large part of the government jobs supposedly created would likely be revised away. The employment report was reported as better-than-expected but the details weren’t as positive. Of the total of 147k new jobs reported, only 74k were private, with the rest in state and local government. 63k of the state and local government jobs were in education which is likely a seasonal adjustment issue. Teachers are normally off in the summer but the timing this year had them still at work. ... (full story)
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