Friday, October 05, 2007
Barry Ritholz notes that those earlier data had aberrant data for public education employment; for August, the number was revised from7.961 million to 8.050 million, accounting for nearly all of the gain. Since we kind of knew that old number was off, this gain doesn't tell me anything new. So you're left only with the September gain as really news, and what do we find? Goods sector down across the board (construction, manufacturing and mining)
As I noted in a comment on Ed's post, in St. Cloud the expansion had largely been two-legged: housing and health. Now we hop along on one leg plus a mild expansion in local manufacturing, which is not confirmed in these national data. (See our latest quarterly business report for more.)
Steve Conover says don't get too excited. I'm not, and neither should you be.