Goldman Sachs: payroll data is economically meaningless

Zero Hedge Watch

Zero Hedge

Goldman Sachs: payroll data is economically meaningless. The release of the US payroll reports is always closely watched by investors as this information is thought to show the strength of the economy and the future of the market. However, in a new report, Goldman Sachs admits it found this information to have no significant impact on the market. This information is revised constantly after it is released so there is no guarantee that the immediate reports are actually correct. Goldman also found that this information along with GDP data did not have a statistically significant correlation with the stock market. Investors would be better served to look at the change in the unemployment rate for clues on the state of the economy. (VIEW LINK)


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