Comments on: How weak is the U.S. employment market? http://www.creditwritedowns.com/2009/04/how-weak-is-the-us-employment-market.html Sat, 21 Nov 2009 08:48:41 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: Edward Harrison http://www.creditwritedowns.com/2009/04/how-weak-is-the-us-employment-market.html/comment-page-1#comment-4866 Edward Harrison Thu, 23 Apr 2009 18:50:00 +0000 http://www.creditwritedowns.com/?p=8006#comment-4866 John,<br><br>You are missing the point. The increase in unemployment already has affected consumer spending. But that affect is starting to become less pronounced. As Kasriel notes, consumer spending is now surprising to the upside. John,

You are missing the point. The increase in unemployment already has affected consumer spending. But that affect is starting to become less pronounced. As Kasriel notes, consumer spending is now surprising to the upside.

]]> By: John http://www.creditwritedowns.com/2009/04/how-weak-is-the-us-employment-market.html/comment-page-1#comment-4865 John Thu, 23 Apr 2009 18:45:38 +0000 http://www.creditwritedowns.com/?p=8006#comment-4865 Well... OF COURSE it was a lot worse in January. All those holiday short term jobs were shutting down. Sorry, there is no way to paint a happy picture of current unemployment figures, which are well watered down by the government in any case. Real unemployment is closer to the U-6 figures, now approaching 17% just 6 months after our "Crash of '08." It did not reach this level during the 'Great Depression' for a full 18 months, (June of 1931). So we are well ahead of Depression era job loss rates, and to think that this will not affect consumer spending is silly. It will. Well… OF COURSE it was a lot worse in January. All those holiday short term jobs were shutting down. Sorry, there is no way to paint a happy picture of current unemployment figures, which are well watered down by the government in any case. Real unemployment is closer to the U-6 figures, now approaching 17% just 6 months after our “Crash of '08.” It did not reach this level during the 'Great Depression' for a full 18 months, (June of 1931). So we are well ahead of Depression era job loss rates, and to think that this will not affect consumer spending is silly. It will.

]]> By: Edward Harrison http://www.creditwritedowns.com/2009/04/how-weak-is-the-us-employment-market.html/comment-page-1#comment-4765 Edward Harrison Thu, 23 Apr 2009 15:50:00 +0000 http://www.creditwritedowns.com/?p=8006#comment-4765 John,<br><br>You are missing the point. The increase in unemployment already has affected consumer spending. But that affect is starting to become less pronounced. As Kasriel notes, consumer spending is now surprising to the upside. John,

You are missing the point. The increase in unemployment already has affected consumer spending. But that affect is starting to become less pronounced. As Kasriel notes, consumer spending is now surprising to the upside.

]]> By: John http://www.creditwritedowns.com/2009/04/how-weak-is-the-us-employment-market.html/comment-page-1#comment-4764 John Thu, 23 Apr 2009 15:45:38 +0000 http://www.creditwritedowns.com/?p=8006#comment-4764 Well... OF COURSE it was a lot worse in January. All those holiday short term jobs were shutting down. Sorry, there is no way to paint a happy picture of current unemployment figures, which are well watered down by the government in any case. Real unemployment is closer to the U-6 figures, now approaching 17% just 6 months after our "Crash of '08." It did not reach this level during the 'Great Depression' for a full 18 months, (June of 1931). So we are well ahead of Depression era job loss rates, and to think that this will not affect consumer spending is silly. It will. Well… OF COURSE it was a lot worse in January. All those holiday short term jobs were shutting down. Sorry, there is no way to paint a happy picture of current unemployment figures, which are well watered down by the government in any case. Real unemployment is closer to the U-6 figures, now approaching 17% just 6 months after our “Crash of '08.” It did not reach this level during the 'Great Depression' for a full 18 months, (June of 1931). So we are well ahead of Depression era job loss rates, and to think that this will not affect consumer spending is silly. It will.

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