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White House economic adviser Larry Summers said on Monday winter blizzards were likely to distort U.S. February jobless figures, which are due to be released on Friday.
"The blizzards that affected much of the country during the last month are likely to distort the statistics. So it's going to be very important ... to look past whatever the next figures are to gauge the underlying trends," Summers said in an interview with CNBC, according to a transcript.
Al Gore did it ! If unemployment rate is still high this summer, Obama will blame the heat as a reason for it.
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I think they are trying to take the air out of the balloon and prep people for a jump in the unemployment rate to back over 10%. It is likely true though that construction halted for the most part in the Northeast due to the constant storms so there just stating the facts.