With today’s weak employment numbers, most economists are looking for reasons to excuse this negative trend rather than trying understand it. They blame it on the warm winter weather, or “same thing as last Spring,” or “consolidation”, anything but what is really happening in the economy. You need to look at employment in the context of [...]
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The employment data from the BLS this morning shocked a lot of economists and writers because it came in much lower than expected. The consensus was for around 201,000 new jobs (February was +240,000), but the report came in at only 120,000. Immediately came the expected headlines: All of the above articles [...] There was some better news on the unemployment situation today as the BLS reportedthat the unemployment rate had dropped to 8.6% from 9.0% in November. (See yesterday’s article, “Another ‘Unexpected’ Unemployment Report.”) The highlight numbers improved but if one digs a little deeper the overall jobs situation in America remains relatively unchanged. While the report [...] |
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