The monthly NFP data is a flawed statistical series. Its just not flawed the way you may think it is. Monthly Non Farm Payroll Data is about marginal change in monthly measures of job changes — that is a tiny change in employment numbers relative to an enormous base of the people in the US who are employed. What is being measured is a single and relatively small data point against a much larger pool. It is also a very noisy series, subject to frequent revisions. Here is what we wrote about this last year: “To begin with, you need to understand the size and scope on the Labor market, and what is actually being mode ... (full story)