Private nonfarm payrolls in the US are expected to increase by 192,000 (seasonally adjusted) in tomorrow’s July update from the Labor Department, according to The Capital Spectator’s average econometric point forecast. The projected gain is slightly below the reported increase of 202,000 for June. Meanwhile, the average July projection is middling vs. a pair of consensus forecasts, based on surveys of economists.
Daily Archives: August 1, 2013
An Old Forecast Gets A New Close-up… Again
On Tuesday, Lakshman Achuthan, the co-founder of the Economic Cycle Research Institute, made another visit to Bloomberg TV and insisted that last year marked the beginning of a new recession for the US. He once again found himself in the unenviable position of arguing that the numbers published to date don’t accurately reflect reality. Data revisions, he asserts, will eventually come around to his view of the business cycle and set the record straight..