The Second Derivative: Employment and the Mounting Job Losses. Measuring the Velocity of Job Cuts in the Current Recession.
In addressing the unemployment situation it is important to look at the velocity of job losses. In January of 2009 we had a stunning 741,000 jobs lost in one month. This by far was the biggest one month cut during the current recession but it wasn’t the biggest one month change. The worst month came […]
Employment Situation: Job Anti-Growth – A Decade with Zero Net Added Jobs. 131 Million Nonfarm Payroll Employment in June of 2000. 131 Million Nonfarm Payroll Employment in June of 2009. 6,460,000 job losses since start of Recession.
The so-called second half recovery got off to a rocky start. The market was expecting 367,000 job losses for the month of June but instead got 100,000 more than expected. The market quickly turned sour as 26,000,000 Americans are now unemployed or underemployed in the job market. Yet what is even more troubling is the […]
20% U-6 Rate by End of 2009: Employment Situation: Economic Indicator of Hours Worked Dropping at Fastest Pace Since 1970s. A Key Financial Leading Indicator. 7 Million Unemployed since Start of Recession.
The headline number of 9.4 percent unemployment doesn’t do any justice to the 26,000,000 unemployed or underemployed Americans. Last month, we saw the unemployment situation improve when only 345,000 job losses came online. This sure beats the 500,000+ months we had for six consecutive months. Yet the actual unemployment rate jumped from 8.9 percent to […]
Real Unemployment Situation: Approximately 26,000,000 Unemployed or Underemployed. Job Growth in $10 per Hour Jobs while $20 per Hour Jobs Disappear.
On Friday, we learned that the unemployment rate jumped to 9.4 percent from last month’s 8.9 percent. The BLS data surveys 160,000 businesses and government agencies that affect roughly 400,000 people so the data does cover a large portion of Americans and gives us a good sample size. The markets were largely moving sideways on […]