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Thursday, May 01, 2014

Friday: Jobs, Jobs, Jobs

by Calculated Risk on 5/01/2014 08:01:00 PM

Speaking of jobs, the Office of Inspector General released their report on the claims that the unemployment rate was manipulated prior to the 2012 election: Unsubstantiated Allegations that the Philadelphia Regional Office Manipulated the Unemployment Survey Leading up to the 2012 Presidential Election to Cause a Decrease in the National Unemployment Rate

In October 2013, OIG received information alleging that management in the U.S. Census Bureau’s Philadelphia Regional Office instructed staff to falsify survey responses on the AHS and the CPS. Following this complaint, additional allegations were presented in various media publications, which reported widespread data falsification in the Census Bureau’s Philadelphia Regional Office.

OIG thoroughly investigated these allegations, and found no evidence that management in the Philadelphia Regional Office instructed staff to falsify data at any time for any reason. Further, we found no evidence of systemic data falsification in the Philadelphia Regional Office. Addressing allegations raised in the media, we found no evidence that the national unemployment rate was manipulated by staff in the Philadelphia Regional Office in the months leading up to the 2012 presidential election.
Jack Welch should not only apologize for his false accusations, but he should pay the cost of the investigation!

• At 8:30 AM ET, the Employment Report for April. The consensus is for an increase of 215,000 non-farm payroll jobs in April, up from the 192,000 non-farm payroll jobs added in March. The consensus is for the unemployment rate to decline to 6.6% in April

• At 10:00 AM, Manufacturers' Shipments, Inventories and Orders (Factory Orders) for March. The consensus is for a 1.3% increase in March orders.