Unemployment is at a 26-year high. But it’s the smallest decline in payrolls in a year, so it has that going for it.
3 thoughts on “Party Like It’s 1983”
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Unemployment is at a 26-year high. But it’s the smallest decline in payrolls in a year, so it has that going for it.
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The Labor Department must have spent several sleepless nights fudging the numbers to keep that under ten percent. They can blame the jump to over ten next time around on the typical seasonal drop in employment. That won’t provide any cover after we see the worst Christmas spending season in twenty years. This economy won’t recover until small business sees some light. These folks aren’t likely to shine any.
Have a look at the “underemployment” numbers.
And it looks like a lot of unemployment benefits are ending for a lot of folks.
The next few months should be very interesting, in a train-wreck kind of way…
If it’s 1983, does that mean we’re going into full Orwellian mode next year?