the seasonal flus on the job market, how many hospitality and service-related jobs were created and how many restroom and temporary jobs are made? it masks it until we get the real story. ups and fed ex hires to fill orders and it makes the number look better than the reality. we will see that play out in january and february as we see the numbers come in and we could see a revision of the data. neil: in other words you take away the we holiday build it, but the seasonal time, presidents of all stripes live or die by the sword for this stuff. and in the end it is what it is, isn t it? guest: sure, well, you make a go point, obviously the markets have seen this seasonal pattern repeated but today, the market was not particularly impressed. also it is important to recognize the seasonal flus
impressed. also it is important to recognize the seasonal flus continue to factor into the market so as we look ahead and we see the seasonal flus come out of the market in january and february we could see headline data that is far less encouraging, far less rosy so we want to hold off on the champagne and look at the reality of this data. also, it is important to recognize that this data, this headline data of creating 200,000 jobs masks the reality. we have double digit unemployment we look at the true unemployment number, those that are underemployed and those in temporary jobs and those who is given up. those are factors to consider. neil: you talk to the administration and hear their take and they have argued we have had 20 some odd months, of consistent growth at least that it is consistent and this could continue through this year, is there a precedence for that? that a recovery although the games could be minor, they do
mind: misleading. this jobs data doesn t factor in the seasonal flus on the job market, how many hospitality and service-related jobs were created and how many restroom and temporary jobs are made? it masks it until we get the real story. ups and fed ex hires to fill orders and it makes the number look better than the reality. we will see that play out in january and february as we see the numbers come in and we could see a revision of the data. neil: in other words you take away the we holiday build it, but the seasonal time, presidents of all stripes live or die by the sword for this stuff. and in the end it is what it is, isn t it? guest: sure, well, you make a go point, obviously the markets have seen this seasonal pattern repeated but today, the market was not particularly
continue to factor into the market so as we look ahead and we see the seasonal flus come out of the market in january and february we could see headline data that is far less encouraging, far less rosy so we want to hold off on the champagne and look at the reality of this data. also, it is important to recognize that this data, this headline data of creating 200,000 jobs masks the reality. we have double digit unemployment we look at the true unemployment number, those that are underemployed and those in temporary jobs and those who is given up. those are factors to consider. neil: you talk to the administration and hear their take and they have argued we have had 20 some odd months, of consistent growth at least that it is consistent and this could continue through this year, is there a precedence for that? that a recovery although the games could be minor, they do add up and they do pile up? guest: in question, the