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Subject:  Re: 7.8%: Cooked? Date:  10/5/2012  5:08 PM
Author:  zoningfool Number:  106887 of 155022

Some over at Pimco are suspicious of the numbers--in an interview on CNBC this afternoon--Pimco's Mohammed El-Erian was asked about possible shenanigans with the unemployment numbers--while he himself was not calling their validity into question, he admitted some of those who work at Pimco--whose job it is to scour the data--had serious concerns about the unemployment figure--mentioning concerns regarding gov't employment specifically--reflecting these concerns he stated: "isn't it peculiar that they (the numbers) are doing that now". Here's part of the transcript--note the bolded portion:

...there's job growth. we find out what that number is. that is what leads to the unemployment number. but they're completely disconnected. we really see that today. jack welsh says there's a problem with the voracity of these numbers. i think what we're seeing is just a reality from month to month. over time they tend to converge. in any one month, you do get differences. this month is one of them. are they open to manipulation? i don't buy the conspiracy theory. there are certain people at pimco who do. i respect their point of view. this is just what happens when you have two different ways of collecting data. 115,000 jobs is certainly