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Beware The Jobs Data- Employers Are Usually Last To Get The News

Relative strength in withholding tax collections tended to support the growth in nonfarm payrolls throughout 2016. But what if both sets of data are misleading? What if employers are acting irrationally in adding jobs when their order books don’t justify it? Employers often take their hiring cues from the stock market. And the stock market has never been very good at forecasting turns in the US economy.

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