What everybody is talking about, the data comes but once a month. 175,000 jobs in february, better than forecast. Upward revision, adding 25,000 jobs to the previous two months. Unemployment takes up to 6. 7 . Dig a little deeper, like through snow and ice. A weather effect, the number of people unable to work because of the weather, 601,000, way above the historical average. Hours worked ticked down. One more data point to Pay Attention to. Average hourly earnings, up. 4 . It is not just the average across the board. Across professions, you see strength in different professions, not just jobs created or raises being given to hamburger flippers. It is a broadbased month of payroll gains. If that continues, then you start to bring the question of inflation into the side picture. Longerterm, the central bank has to worry about than whether or not their call for no increase in Interest Rates until mid2015 or later is correct. That is a key point. David rosenberg saw inflation coming. His
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