This morning's news that U.S. unemployment has hit 13.7 million, pushing the rate to 8.9 percent, tells only half the story of this recession.
The total number of Americans who are not working full-time but ought to be is actually about 22 million, or 15.8 percent, according to the Bureau of Labor Statistics...
I've had the hardest time getting folks to stop smoking those Green Shoots, and view the data with objectivity.
I'm not a Doom & Gloomer, but you have to look at reality. We are a long way from back to "normal", so we need to take pause here with this irrational run through last week.
BAC has been a short trade, I said that Friday, Monday, Tuesday, and today.
Going forward, I don't yet know how I view BAC. I'll know more tonight after I digest all the data from today.
As I mentioned last week, certainly go to the Labor web site to get the REAL data.
6.9 million lost jobs since the Recession started. That is how they are framing the job losses in the media. Who cares.
I look at the Total # that are unemployed, and that number is TOO big. Are we really going to hire 10 million people to redo roads, and update schools?
Can you swing a hammer? Push a wheel barrow?
We need REAL job creation folks .....