Just The Same Old BLSBS

We had expected a negative birth-death adjustment this month and had hoped that this would lead to a "jobs disappointment". Well, we got the negative adjustment but "jobs" soared, regardless. I guess we should have expected this outcome with the usual, goal-seeked BLSBS.

And what's funny is that the birth-death adjustment was over 100,000 greater than 2021! All week, we wondered if it would come in near -70,000 like it did last year. Instead, it was -172,000....

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Key Economic Events Week of 1/30

1/31 8:30 ET Employment Costs
1/31 9:00 ET Case-Shiller Home Prices
1/31 10:00 ET Consumer Confidence
2/1 8:15 ET ADP jobs report
2/1 9:45 ET S&P Manu PMI
2/1 10:00 ET ISM Manu PMI
2/1 10:00 ET JOLTS
2/1 2:00 ET FOMC Fedlines
2/1 2:30 ET Chief Goon Powell
2/2 8:15 ET ECB rate decision
2/2 8:30 ET Productivity & Labor Costs
2/2 10:00 ET Factory Orders
2/3 8:30 ET BLSBS
2/3 9:45 ET S&P Services PMI
2/3 10:00 ET ISM Services PMI

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