Today the market was expecting 15,000 jobs to be added to the Australian economy for August.
When the ABS announced 121,000 jobs were added for the month, the reactions ranged from laughter and bemusement to frustration at the clearly questionable data from the official Australian statistics body.
We’ve picked out some of the best reactions to the news.
There were some great one-liners
Here's a great aerial photo of the Australian Bereau of Statistics research headquarters pic.twitter.com/GV1GNQUSAl
— Johnny Shapiro (@johnnyshap) September 11, 2014
— Bullion Baron (@BullionBaron) September 11, 2014
Omg my feed is going to be full of StatsCan Australia related tweets for the next 14 hours *groans*
— Luke Kawa (@LJKawa) September 11, 2014
— Fleur Anderson (@fleur_anderson) September 11, 2014
My main disappointment from the Australian employment numbers was that we didn't beat US non-farm payrolls. Missed opportunity that.
— Callam Pickering (@CallamPickering) September 11, 2014
The ABS appears to have swapped its jobs dart board approach with a pin the tail on a donkey methodology.
— Jacob Greber (@jacobgreber) September 11, 2014
Govt on track for a million new jobs by next Tuesday.
— Stephen Koukoulas (@TheKouk) September 11, 2014
Some people called out the howlers…
..the participation rate reportedly surged to 65.2% (from 64.8%) and more than all new labour force entrants found jobs. Yeah right…
— Shane Oliver (@ShaneOliverAMP) September 11, 2014
To put the Australian employment gains into perspective, using labour force size, it's equivalent to US NFP printing 1.572m #rubbery
— David Scutt (@Scutty) September 11, 2014
Have pretty much given up taking the seasonally adjusted figures seriously. Employment up 1% in a month? The 4th biggest since 1978? Nah.
— Greg Jericho (@GrogsGamut) September 11, 2014
Volatility in ABS employment data a bit of an embarrassment.. but must be some positive signal from such a loud noise.
— David Bassanese (@DavidBassanese) September 11, 2014
And the candidate for the Too Soon award…
— LordofLeverage (@MSWTRADES) September 11, 2014
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