Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
On Thursday, the Labor Department posted phony numbers for the weekly jobless claims report. In response, the stock market went up. But Ray wasn't fooled. (See his last posting.)
After the release of the report, a Labor Department economist told Dow Jones that an entire state's renewal numbers had been left out of the report without any mention within the report. Here's a selection from a CNBC article (Why Jobless Claims May Not Be as Good as Market Thinks):
So there you have it. On Thursday morning, the Labor Department ran with phony new jobless claims numbers. There was no mention in the report that anything was left out. After the release, one of the Labor Department's economists revealed that the numbers were false. Was last week's 7.8% unemployment report also due to phony data?
Real Estate Taxation
Journal of Economic Literature:
Atlantic Economic Journal: