Spot The "It's All The Weather's Fault" Lie

Tyler Durden's picture

December and January saw dismal job gains based on the NFP data... but as we now know, thanks to Zandi and Liesman, that we should ignore it because it's all about the weather. So, confused, we looked at the number of employed people who are "not working due to weather" (thank you for the convenient series BLS) to gauge the significance of the impact... it appears, from the chart below, that more people were out of work due to weather in 2008, 2009, 2010, 2011, and 2012...?

 

 

 

Paging Dr. Zandi?

Though of course, as Steve Liesman noted this morning, this doesn't matter since "jobs are not critical for growth."

Charts: Bloomberg