Some nice chart porn from CNN Money:
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Source:
Unemployment hits 25-year high
Chris Isidore,
Jobless rate hits 8.1% in February as a record-high 12.5 million people are unemployed.
CNNMoney.com senior writer
March 6, 2009: 9:01 AM ET
http://money.cnn.com/2009/03/06/news/economy/jobs_february/index.htm?postversion=2009030609
An Indian-born economist once explained his personal theory of reincarnation to his graduate economics class. "If you are a good economist, a virtuous economist," he said, "you are reborn as a physicist. But if you are an evil, wicked economist, you are reborn as a sociologist." —Paul Krugman, "Peddling Prosperity: Economic Sense and Nonsense in the Age of Diminished Expectations" (1994, page xi):
Weather impacted Feb Housing Starts totaled 575k annualized, 5k above estimates but down from 611k in Jan which was revised up by 20k. Permits totaled 612k, 11k above expectations but down from 622k in Jan. With both starts and permits, single family and multi family categories fell. Single family construction fell in the Northeast and South but rose in the Midwest and West. Weather notwithstanding, builders have been getting ready for the spring selling season and the last hope, for now, for people to take advantage of the upcoming expiration of the home buying tax credit while mortgage rates remain...
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March 11th, 2009 at 9:35 am
Reviewing the data I note that the “missing sector” is the self employed population that is now unemployed. This country runs on small business. Small business owners contribute to the economy on all levels but very few are able to pay unemployment insurance on themselves. The builders, contractors, trades persons, realtors, appraisers, nail technicians, hair stylists, are not refelcted in the available data because they are not able to file for unemployment. Any idea how many builders are out of work? or realtors? and it is a trickle down to all the service industries and people that count on this population for income. SO…what are the REAL unemployment numbers? How many sole proprietors are without income? How many S corp owners? and what is the impact to the economy. The Big Picture is incomplete without these numbers.