Friday's number is not going to make much of a difference for the outlook for the economy.
More Quotes from Steven Wieting:
Years from now, new benchmark revisions will come along and change the whole picture again -- which begs the question of how important these monthly payroll changes are. I think it's irresponsible to make too much of these reports.Steven Wieting
This gain in proprietors' income is small-business job creation, we think, and it's more useful at this point in the business cycle than it would otherwise be,
Steven Wieting
Beneath the surface, production and inventory, here and abroad, are moving up faster than the rate of demand growth,
Steven Wieting
That kind of decline is a perfect fit with what we've seen in the household survey's measure of employment, ... if not in February, then in future benchmark revisions.
Steven Wieting
He has time over time noted a single month of economic data is a poor guide to the future,
Steven Wieting
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