Re: Re: Re: BLS Daily Report

[Rob Schaap]

G'day Doug,

> It's wrong at turning points; it underestimates job creation
> early in recoveries, and overestimates it at peaks and early in
> recessions. But that's not most of the time (which you'd never know
> from reading PEN-L).

Fair enough.  But we have had evidence for well over a year (in productivity,
profits, capacity utilisation, business start-ups, and equity markets) that we
could be recession-bound.  So BLS is right to warn us.  Perhaps it should have
done so in the words you use above.  

But I reckon my question stands, don't you?

Cheers,
Rob.