Consensus for tomorrow’s Nonfarm Payroll is pretty rich: 250,000 new jobs. I think that number is high (more on this tomorrow), as well as Productivity data (more on that Monday).
As we await tomorrow morning’s data, let’s take a run at some of the Cleveland Fed’s monthly chartbook. They remain quite instructive:
click for larger charts
This is the worst jobs creation recovery since WWII ended
Various Unemployment Measures
(note that the full measure of U-6 is 8.75%)
How has Labor Participation Rate changed since 2000 ?
Employment Ratio (Civilian Population)
Economic Research & Data
FEDERAL RESERVE BANK OF CLEVELAND
FEDERAL RESERVE BANK OF CLEVELAND, January 2006
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.