With today's numbers, I have revised last night's statment to now read:
If anyone has kept track of the weekly revisions to the weekly job losses, they would see on average the revisions have been an additional 4K per week. From July 16 to Nov 12 there have been an additional 65K jobs lost under the radar.
The stability Tony refers to is equal to approx 1.43% (change/change)or .01% of workforce, but the average understatement adds back .7% not withstanding the total accumulated under-reported and the decreasing size of the workforce that makes the speed of the declince appear to be slowing, but in percentage terms represents a higher % of the remaining workforce losing jobs.
Add to that how can anyone in thier right mind consider over 500,000 people a month losing their jobs as better. Add that up for the year and how many poeple are out there unemployed, underemployed and lets not forget the ones who no longer have access to unemployment amymore.
It just blows my mind how anyone can expect this economy to improve with these numbers.
The people on the street are not blind as those in power would like everyone to believe. This bubble will burst sooner or later.