ZH: Here comes the job shock – Philadelphia Fed admits US Jobs 'overstated' by at least 1.1 million

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ZERO HEDGE writes:

Regular readers are well aware that back in July, Zero Hedge first (long before it became a running theme among so-called “macro experts”) pointed out that a gaping 1+ million job differential had opened up between the closely-watched and market-impacting, if easily gamed and manipulated, Establishment Survey and the far more accurate if volatile, Household Survey ? the two core components of the monthly non-farm payrolls report.

We first described this divergence in early July, when looking at the ...