We are hearing the recession is easing. Employment is historically one of the last pieces to fall into place. But with the unemployment rate officially at 9.5% now, and probably or realistically greater than 9.5% because lots of labor activity is not so carefully identified, the information is not going to sit well. This is bad.
The timing of this announcement is either serendipitous or planned, either way a long weekend will help with sorting out this tragic news.
Reuters: U.S. payrolls fall more than expected in June
U.S. employers cut 467,000 jobs in June, far more than expected...
...100,000 greater than the 363,000 consensus of Wall Street economists...
3 comments:
It's far worse then 9.5 %! The GOpers own almost everything and everyone and who they don't own they try to ruin or destroy. They're angry and in a vengeful mood. They hate the Dems. spending THEY'RE $$. THEY HATE CHANGE, unless it feathers they're already luxurious nests.
This whole recession has been pretty exasperating. Did you see the article which claims that Goldman is at the center of the recession, and every recession right on back to the Great Depression. They make money on the bubble and by hedging during the downturn. Plus they got lots of cash last Fall from the taxpayer.
Thats Y I call the men with Sacks of Gold not Goldman Sachs. They're all about Gold. The Golden Calf!
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