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May Payroll Data Not A Black Swan

May Payroll Data Not A Black Swan

4 Years ago | June 06, 2016 00:00:00

John M. Bland, MBA

I have seen surprisingly little commentary about why the May non-farm payrolls data missed street estimates by a mile. Although I worked with a firm for a couple of decades, I was never involved in the data forecasting side of the business. Nevertheless, one thing that I learned there was that although the can be a lot of “noise” in monthly data, that fundamental economic trends are slow to change.

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