The unemployment figure is the first true upside "surprise" that actually "surprised" me. While there are still enormous structural problems remaining in the global and U.S. economies, my thought has been that employment will be a leading (vs. its typical lagging) indicator this cycle. Thus, my hope that this will be an improving trend....
Economic Data
Unemployment Drops to 10%
Chicago PMI: Strength, but No Jobs
Still Shedding Jobs
European Unemployment Remains at 11 Year High
Random Blip or Double Dip?
Autos and Emerging Markets
Private Construction Slump Continues
Manufacturing Continues to Expand, but at Slower Pace
Durable Goods Down, But Out?
Japanese Industrial Production Up, but Disappoints
Asset Prices
Thanks to the Fed, We Have Narrow Spread
Equities Lost Decade
1.2% over 10 Years?
The Scale of Hedge Fund Gold Purchases
And to celebrate the economy's potential "waking up", your video of the week... Arcade Fire's 'Wake Up' in a live post concert stairway acoustic performance (you may have heard the album version from a commercial for 'Where the Wild Things Are'). For those looking for an album to buy, their first album 'Funeral' is absolutely amazing.
Saturday, December 5, 2009
EconomPics of the Week: Recovery Edition?
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Don't forget GDP at 3.5 percent for Q3. Oops.
ReplyDeleteMaybe I'm a cynic. But with small business failing and credit contracting, I find an improvement in the unemployment rate caused by people dropping out of the labor force as something very much less than convincing.
How about people the numbers are rigged and the revised numbers will be much bleaker. People have given up looking and collecting.
ReplyDeleteThe number on payrolls actually was much stronger. I agree that certain #'s are fuzzy (and may be revised), but the initial report was improved.
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