Be sceptical about the jobs numbers

Livewire News

Stephen Long, the economic correspondent at the ABC says investors should “be sceptical” about the Australian jobs numbers that were just released for October. He says “the seasonally adjusted labour force estimates from the Australian Bureau of Statistics for October sound incredible and they should be treated as just that: not credible. Don't believe politicians as they gloat and claim credit. Don't believe the wire services when they report the estimates as fact.” Craig James of Commsec is also doubtful, saying "It's hard to believe that almost 60,000 jobs were created in one month with 40,000 of these jobs in full-time positions." Don’t be surprised if the numbers get revised. (VIEW LINK)


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