Rising Job Losses Damp Hopes Of Recovery
By Barry Ritholtz - July 3rd, 2009, 6:23AM
Job losses accelerated more quickly than expected last month and the unemployment rate rose to 9.5%, casting doubt on prospects for the U.S. economy to soon rebound.
U.S. employment fell by a seasonally adjusted 467,000 jobs in June, after declining by 322,000 the month before, the Labor Department said Thursday. The report is at odds with such signs of recent economic improvement as growing home sales and increased business investment.
This guy is out of his gourd:
July 3rd, 2009 at 8:49 am
Agreed. He must have some high walls around his property. Plus you can maintain this degree of aloofness only through intense avoidance of meaningful human contact.
Nice suit.
July 3rd, 2009 at 9:07 am
Maybe I’m slow – I’m just on my first coffee – but what the heck is he talking about???
July 3rd, 2009 at 11:40 am
Er, what exactly did you expect from an Ivy League economics professor?
July 3rd, 2009 at 3:16 pm
So, temporary census workers only count when they are being hired, not fired. Got it. Thanks, professor.
July 3rd, 2009 at 3:50 pm
What’s that old saying about those who can do…..? Stats like unemployment tend to oscillate about the true value as the various tides ripple across the country. As Taleb noted yesterday on CNBC, you could even have a positive number at some point and it wouldn’t mean the worst was over.