Friday, November 6, 2009
10.2% Unemployment; Loss of 190,000 jobs; U-6 rate is now 17.5%; but don't worry--We have Govt. stimulus saving jobs!
Oh but "temporary" employment picked up--and some increased overtime---start the spin!!
But the U-6 rate went up to 17.5%!
The job losses were only 190,000 because people fell off the unemployment rolls.
It is an ugly report, no matter how Wall Street spins it, but they'll say its getting better because the "change in the change" is getting less.
Sort of like your girlfriend saying she'll only be sleeping with your buddy 3 days a week instead of 4.
The off day, she'll be out in the bars.
Which is why Main Street is so p*ssed.
They're left with pocket change, and Wall Street is left with billions of bonuses.
Posted by Palmoni at 8:35 AM