A diary of the thought process behind my investment decisions
Funny NFP report ... just eyeballing the NSA data, it looks like one of the worst Januaries in decades ... but then after seasonal adjustment, it becomes a pretty good-looking month. And hourly wages and hours worked were up. Hard to know what to make of it. I'm taking the view that if it's not obviously good, it's bad.
I would look at the ADP report. They are the largest payroll processor in the country and have the best data. In my opinion.The data is bad for this point in the recovery any way you look at it.
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