paul.kedrosky.com - 1/11/2009
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I have been sent this Reuters story from yesterday umpteen times, so I may as well post it, as well as the underlying graph. The gist: If unemployment were being measured the same way as it was during the Depression, the U.S. would be well on its way to similar numbers. Check the SGS line in ...
change.gov - 1/10/2009
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change.gov —
The high unemployment numbers released this week rattled
the country, as anxiety about the deepening recession hit...
home to more and more American families. President-elect Obama's Weekly Address responds with an urgent call for immediate and ...
(more)
Turning around unemployment
spaineconomy.blogspot.com - 1/9/2009
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spaineconomy.blogspot.com —
Spanish registered unemployment topped 3 million for the
first time ever in December, as the government said...
unemployment was expected to worsen in 2009. Comparable government figures on the number of jobless in Spain go back to 1996 but Employment ...
(more)
Unemployment Up And Mortgages Down In December
247wallst.com - 1/6/2009
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247wallst.com —
The minutes from the December FOMC meeting where
rates were essentially taken to zero have now been...
released. What is interesting here is that there is very...
(more)
Fed Minutes: Pain & Unemployment Ahead
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Words from the (investment) wise 1.11.08
The Big Picture —
... has changed a great deal over time, with, for example, there being more part-time and flex work etc., messing with figures.
• The existence of a social safety net has, for better or worse, made it possible for people to withdraw permanently from the workforce without having to live on the streets.
• There is no denying that there are far more able-bodied people out of work than the skewed-low US BLS figures purport to show.”
Source: Paul Kedrosky, Infectious Greed, January 9, 2009.
Bloomberg: Pimco’s ...
Unemployment Rate
The Big Picture —
... near depression levels of unemployment.
>
The series by John Williams’ Shadow Stats folds back all of the workers who have left the Labor Pool. We do not know how many are actual workers and how many have simply left the labor pool, so that 17.5% number probably skews high.
While I believe the 7.2% unemployment rate is laughably inaccurate, I do not think we are at 17.5% either . . .
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Hat tip Paul
>
Source:
Great Depression ...
Features of the week
Finance Trends Matter —
... bailout endgame: drama of Citi and Bank of America. 3. Audacity defined: David Kotok on Geithner and Obama. 4. Stimulating comments: Bernanke on further bank bailouts. 5. Joseph Dancy's market outlook for 2009. 6. Credit crisis watch: gaining positive traction. 7. There's unemployment, and then there's unemployment. 8. John Paulson: "the man who ...
Bankers’ greatest fear
FT Alphaville —
... and Paul Kredrosky (via figures collected for Reuters ) are already suggesting that the real unemployment rate has risen to something like 13.5 or 16.5 per cent per cent (charts below, click to enlarge). In comparison, a ...
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