The headlines say that the U.S. added just 69,000 jobs last
month, but strictly speaking that isn't right. According to the WSJ the real
gain was 789,000.
That much bigger number is what you get when look at the job
figures that the Labor Department hasn't adjusted for seasonal swings—like the
tendency of hotels and home builders to hire more workers on as summer
approaches. The aim of the seasonal adjustment is to present data that more
accurately reflects the underlying trend of the economy from ...
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