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
Hell begins the day that God grants you the vision to see all that you could have done, should have done, and would have done, but did not do. —Johann Wolfgang von Goethe (1749-1832)
We are on track to finish the yr with the trends that have been in place 3/4 of '09, strong stocks and corporate debt, weak US$ and lower US treasuries. The credit markets led the way down in '08 in terms of equity performance, up in '09 and I believe will again dictate the direction in '10, particularly the sovereign side, which now includes half of the entire mortgage debt in the US. The Yuan partially reversed yesterday's sharp move up after Chinese officials said economic policy will remain on track. Helping to send the US$ index to a 2...
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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.