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 2/19

2/20 10:00 ET LEIII
2/21 8:00 ET Goon Bostic
2/21 1:00 ET Goon Bowman
2/21 2:00 ET January FOMC minutes
2/22 9:45 ET S&P flash PMIs February
2/22 10:00 ET Home sales
2/22 10:00 ET Goon Jefferson
2/22 3:15 ET Goon Harker