Employment Situation Worsened

[Tams 20]

Released on 11/6/2009 8:30:00 AM For October, 2009

 

http://bloomberg.econoday.com/byshoweventfull.asp?fid=437995&cust=bloomberg&year=2009#top

 

 

The jobs picture in October worsened as the unemployment rate topped double digits and payroll jobs fell more than expected. Nonfarm payroll employment in October declined 190,000, following a revised decrease of 219,000 in September and a revised contraction of 154,000 in August. The October fall in payroll employment was more negative than the market projection for a 175,000 decrease. September and August revisions were up 91,000 net for the two months (the net declines were smaller).

 

 

 

 

 

The civilian unemployment rate is a lagging indicator of economic activity. During a recession, many people leave the labor force entirely, so the jobless rate may not increase as much as expected. This means that the jobless rate may continue to increase in the early stages of recovery because more people are returning to the labor force as they believe they will be able to find work. The civilian unemployment rate tends towards greater stability than payroll employment on a monthly basis. It reveals the degree to which labor resources are utilized in the economy.

Edited November 6, 2009 by Tams

[brownsfan019 17]

I am by no means a fundie guy (anymore at least) but it's interesting when you see things like that reported but we are being led to believe that things are fixed and better...

 

It's amazing how things are reported when the market is up vs. when the market is down. If that report came out when the market was already down and went down more, it would be all over the news. I doubt we see too much made of it at this point.

[DugDug 10]

It will be reported next time the market goes down as a reason for it declining.

Its amazing watching bloomberg TV and a few other programs - one day they are bullish the next they are bearish for the same reasons.

Remember the Asian crisis in 1997, it was happening for 6 months before it culminated in the stock market collapse at the end of October, followed by a bounce the next day.