The BLS have become masters at making the jobs report paint a rosier picture than reality. Been at it for decades.

In defense of the BLS actual workers, I have spoken to them on many occasions I find them bright, responsive, and helpful.

They have their hands tied behind their backs. Some of these seemingly inane concoctions like the birth-death model are because they do not have access to the actual data.

This is due to a security concern. They are not allowed to see SS numbers. In turn this means SS numbers are not encrypted. They should be.

But a sort-merge operation could weed out duplicate SS numbers so there is no need to see them. But bottom line they do not have access to the data so we see screwy things.

That said, despite my belief these are generally bright, dedicated, and hard-working individuals, these jobs should not exist at all. Gallup and other pollsters could do these unemployment projections better and at less cost. etc etc etc

Mish, your comments make perfect sense, just like David Stockman's insistence for many years now that the economy is about to crash. But what counts is Mr. Market's opinion on that, and Mr. Market is very bullish.

I don't know how to reconcile this, but Canada had its worst month for job losses in more than 10 years. https://www.theglobeandmail.com/business/economy/article-canadian-economy-posts-worst-month-for-job-losses-in-a-more-than/

Anecdotally, wages have been flat or declining during that same period. Supposedly we're 'on fire', but I'm just not seeing that on the ground. I work in IT, though, so maybe it differs by industry.

Meanwhile, back in Squawk Box (ish) landia: https://www.citizenfreepress.com/breaking/jim-cramer-cant-contain-himself-these-are-the-best-jobs-numbers-of-our-lives/

All job growth is in the public sector,healthcare,military,welfare,prison industrial complexes,prison guards,parole officer,prison custodians,booming prison industrial complex.

Mish wrote: "@MM and @thimk get what I am saying

'I suspected that they have to toil with models and formulas dreamed up by some academics before their profession was exposed as fraud by real life events. Same as with inflation calculation.' "

In other words (though Mish will never admit it) -- its fake news and Trump was correct from the start. Now Trump tweets the fake news, mocking it every step of the way ... and the never-Trumpers get angry that Trump has exposed the emperor has no clothes.

Mish can't separate his hatred of Trump from the message Trump has been sending from the get go.

Trump likes to tout manufacturing but its the service economy that is the real hero of the American economy. And that's not McDonald type jobs. We manufacture more with less people every year. That's simply a fact and we'll never excel at commodity manufacturing but value added specialty goods(our labor costs are simply too high)