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March 10, 2009

Economic Data and Jobs

We had the jobs number, or the lack of jobs number that came out again worse than expected.

I don`t know when the statisticians are going to start figuring out how bad this thing is because everytime we get an economic statistic it shows things are worse than we expect.

Anyway, we had 3 months in a row where he had lost better than 600,000 jobs. I think the only sector that added jobs was the government and that hurts us. Because those are nonproductive jobs. Everybody needs to work harder to support those government jobs.

They revised down the last few months and the unemployment rate is now 8.1%. But off course the official numbers are nonsense. They don`t count all the people that have given up, that are not even looking for a job anymore.

They don`T count all the people that are working part time at McDonald`s because they can`t get a real job. They don`t count all the independent contractors who are earning nothing but still are employed, the comission salesman that are getting no money but are not counted as being unemployed.

The real unemployment rate is probably close to 15%.
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