(Mike Maharrey, Money Metals News Service) There is no government report more meaningless and yet more relied upon by policymakers than the monthly non-farm payroll report released every month by the Bureau of Labor Statistics.
Every month, the BLS releases data. Every month, we get breathless headlines about the “strength” or “weakness” of the economy based on this data. Every month, policymakers pore over the job report as they make decisions about the trajectory of monetary policy.
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