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Can You Trust Government Data?

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  • Description

    FBN's Liz MacDonald on Wall Street's confusion over jobless claims data.

  • Duration 2:13
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Since the minute she's amazing now we'll just this year the Labor Department alone has had not one not -- -- Three high profile problems at the jobs data and that's causing distrust of government data on Wall Street Elizabeth MacDonald is here.

Bottom line -- -- it's likely get the reports you know what avenues pushing aside at this point.

Well yeah I know let's get -- here's a deal quickly did problems are course that sudden drop in unemployment rate.

Even before that.

Revisions of the prior week jobless claims data 83 out -- 84 weeks now streets consecutive revisions the prior week yet I mean be indicative of really.

Bad recovery and also now we're seeing the mystery state.

That had the I suppose of missing jobless claims data.

California out swinging yesterday telling Fox Business which we were breaking the story all day yesterday Peter bars in the DC bureau.

Essentially now saying look we are not the mysteries state we've got breaking news on -- where you believer officials now telling Fox Business.

That we -- they will release the name of this mystery state where this.

Missing jobless claims data is.

People still play it now California because of the magnitude next week thank I don't think that -- -- -- data it's.

Also the -- the Labor Department's handling all of these yes because they're telling entirety on -- -- -- but let's get to Wall Street's content fusion over this because more and more this is becoming a trader's market.

Not an investor's market on news of jobs data did greenhouse we're not sure what to think and they're saying we gotta wait he's at BT IG.

Peter -- -- -- effort just traffic number try again next week when the other number comes out.

BNP Paribas SA there weren't caution on -- jobs data as a release of government workers.

They're poor quality there I -- Morgan Chase's stance silver he's saying we -- we think it was California he still doesn't know.

And each have digest what should those guys over there are saying they're saying there was an early rally on incomplete in Polk which became -- done.

Waisted buying power so here's the bottom line lot of high level of noise Wall Street analysts are warning about.

In the jobs data you gonna see gold possibly selling off a positive news thinking that the Fed's gonna pull back so that's gonna roil the markets going forward.

Until we get some more clearance a Wall Street it again there's confusion down there they're confused watch out you're.

All right Elizabeth thanks so much.

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