I was wrong – and happily so. The September jobs report shows a net gain of 109k jobs, far ahead of the 40k predicted in Barataria. The August job growth figure of no net job creation at all was revised up (yes, up!) to 57k jobs created that month. Clearly, whatever happened at the end of the summer was a bump in the road.
Being wrong is no crime as long as you learn from it. So let’s go through and figure out what must be happening to miss so badly.