SPX closes at 929.23 on better than expect jobs number. Well, on the surface they look better. Back out the temporary census workers recently hired and you have -611K. More on that below. I mentioned a close above 925 in a previous post but the number actually is 930-935. I'll repost the image here from a prior post 'Navigational Beacons'
The jobs number is misleading in that there is this magic BLS blackbox. Read what Mish has to say about it in 'Jobs Contract 16th Straight Month; Unemployment Rate Soars to 8.9%'
Ticker Guy also explains in 'Unemployment Fried-Day' why you can't believe the headline numbers and the constant better than expected babble.
Finally, Zero Hedge explains in 'The Real Memo Out Of The Bureau Of Lies And Statistics' how employment numbers seem to always come up better than expected at key market points. Watch for revisions to today's number going forward.
