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The United States employment situation improved substantially in November. The unemployment rate fell a bit and quarter-on-quarter job losses slowed dramatically, almost to zero. This welcome news has been greeted with rises in equities and a fall in Treasury bonds. I have attached four charts below. Are we out of the woods? No. Is . . . → Read More: Today’s Jobs Report, Feedbacks, and Foreclosures The United States unemployment rate rose from 9.8 percent in September to 10.2 percent in October, exceeding our forecast and the consensus forecast. We appear to be in-between everyone else and reality again. The data, either quarter-on-quarter or year-on-year, indicate ongoing job losses that are typical for a serious recession. We have said . . . → Read More: The October Employment Situation |
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