Jobs, September, 2021:
- hindsight is 20-20, or is it 20/20?
- how were the analysts so far off?
- what did Steve Liesman miss?
- this was a great example of "group think" and trusting the (wrong) memes;
- in the big scheme of things, I track very few metrics
- but one metric that I do track would have predicted the "bad" September, 2021, jobs report
- again, it's a metric I track and post weekly
The analysts were so far off this suggests the analysts are not looking at hard data but simply reading headlines and talking memes.
This is the one metric that foreshadowed the JOLTS report / jobs report for September, 2021, gasoline demand over the past six weeks:
US crude oil in storage, days of supply: back down below 28 days.
27.6 days versus 28.2 days last week, link here.
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