No. 580: November Labor Data and M3, October Household Income

(SGS Subscription required) • Real Household Income Falls Slightly in October, Remaining Near Cycle-Low
• Shutdown Effects on October Labor Data, and Misreporting of Same, Are More than Reversed in Headline November Numbers
• Resulting Seasonal-Factor Distortions Weigh Heavily on Data Significance; Current Headline Labor Numbers Have Little Meaning
• November Unemployment: 7.0% (U.3), 13.2% (U.6), 23.2% (ShadowStats)

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