RE and economic charts: The Fallacy of Headlines: Is the Jobs Report Really Bullish?

Tuesday, November 9, 2010

The Fallacy of Headlines: Is the Jobs Report Really Bullish?

[mEDITate-OR:
not see what this "re-viewer" sees for U.S.
The 1st two charts show U.S. a comparison of who IS vs who is NOT employed. What we are usually told about is how many are collecting UI benefits. What we forget is the number of U.S. that still have jobs is lower.
since April, we experienced successive drops in the number of employed people and the October one is the largest so far in 2010:
330,000 fewer people have a job in America today compared to the previous month
And at the end of the day, that's what counts for the economy:
how many people have an income they can spend.
The 2nd two charts show U.S. a quite different view of who is NOT working. The 3rd one below shows U.S. the number of long-term unemployed. This is variable, due to the huge swing in job losses in the winter of 08
around 6.1 Million people out of work more than 6 months.
The last chart shows "the discouraged" - since we quite hiring them, they have quit looking. Many simply quit living, normally or at all.
They are the "hidden jobless".
that does not mean they have money to spend to get the economy going.
when one scratches beyond the surface, the picture is not that pretty.
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