The jobs report came out yesterday. Lots of number being thrown around. and to me they still don't add up. Here's how they stand.
Official Unemployment is 8.6 % down from 9%. New Unemployment Claims are once again over 400K. 402,000 is the number this week. The US Government dropped 4 thousand jobs with state and local government shedding 16,000 jobs. The construction industry fired another 12,000 folks. Government speculation says that another 315,000 people just quit looking for jobs.There are something like 13 Million people out of work. But new payroll only climbed to 120,000. So you do the math. The 120,000 comes from retail and shipping. Can you say Seasonal Jobs? What 'll happen to those jobs in a couple of months?