by David Kranzler
Investment Research Dynamics
The monthly non-farm payroll report has become a fraud of epic proportions. The Government is claiming that 215k new jobs were created in March. In the goods producing category it claims that 37k jobs were created in construction. But there’s a problem with this – it doesn’t correlate with construction spending and housing starts:
[…] Anyone who follows the housing market knows that for the last year that new housing starts – notwithstanding the conspicuous manipulation embedded in the Government’s reporting methodologies – have been largely driven