Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000
(www.zerohedge.com)
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The Fed report they base their stuff on says don't make APPLES to ORANGES comparisons using this report.
Note: The estimates obtained from the sum of our EB state estimates are not designed nor intended to be an accurate measure of national employment. Moreover, the BLS warns that, owing to statistical limitations, it “does not compile a ‘sum-of-states’ employment series and cautions users that such a series is subject to a relatively large and volatile error structure.” This caveat also applies to our EB series.