David Rosenberg Is Really Bummed Out We Didn't Get A Jobs Report, So He Wrote A Song

Gluskin Sheff's David Rosenberg took to lamenting the absence of this jobs report, by repurposing John Lennon.

Here are the results:

Imagine there's no payrolls
It's not easy if you try
No jobs report below us
It's going to make me cry
Imagine all the economists seeing purple spots today

Imagine there's no data
It's very hard to do
Nothing to write a report for
And no market reaction too
Imagine all the economists not gazing at their screens

You, you may say
I'm a dreamer, but I'm not the only one
I hope someday the BLS will join us
And give the economists back their fun

Imagine no revisions
I wonder if you can
No need for the economists today
A number that deserves no ban
Imagine all the economists, not sharing all their views

You, you may say
I'm a dreamer, but I'm not the only one
I hope someday the BLS will join us
And give the economists back their fun.

Rosenberg did however jot down what he would have written if there had been no shutdown. He would have seen a 215,000 increase nonfarm payrolls in September, above the estimate of 180,000. "While few economists saw this coming it had already been projected by the initial jobless claims data as the four-week moving average has fallen 20k in just the past month."

Rosenberg also would have seen see a drop in unemployment rate to 7.1% because of employment gains and participation rate declines. That being said, he expects the Fed to maintain its "insanely accommodative stance into 2014."

We hope Congress and the White House can get their act together, if only to spare us such episodes.