^^ This article states that about 4.7 million Americans give up searching for work. http://freep.gannettonline.com/careerbuilder/career_resources/newarticles/articles/quitlooking.html That's true.
the argument about unemployment statistics missing millions of people that stopped looking for job (and hence are not accounted as unemployed) is one of the most hilarious. First it is derived from labor participation statistic which simply means that <i>less people are willing</i> to work. Note that these missing people do not need to drop from numerator of unemployment rate - they can come out of denominator which can potentially mean that the unemployment rate is even lower that it shows today in comparison to the past. These people may simply decide to live from wealth they accumulated which is in my opinion much more likely than that somebody with nothing to eat will stop looking for a job. Second tightness of the market is much better demonstrated through costs of labor than an unemployment rate. On top of that nobody knows where natural level of employment is if the concept of <i>natural</i> rate <i>independent</i> of time even makes any sense...
Do a search for "Real Unemployment Rate". For example: http://www.exilemm.com/e-sub-realunemployment.shtml http://www.slate.com/id/2094690/
that's what I am talking about - invest with Christian fanatics.... you really can't be serious with this link....
Kinda. To correct some responses, it is something like 6 months before you are considered a "discouraged" worker. Unemployment lasts 6 months but gets extended. They care about adult to retirement age, not kids or the old. Exactly. It's called statistics. In the government's defense, some ppl end up trying to start their own business. So they are not really unemployed. Just not making any money and dipping further into debt. Real unemployment is at least 10% and growing. Everytime you see a story about another major corp taking operations offshore, realize that many, if not most, of those displaced workers will not be able to find a new job.
wow - rock strikes again. I like that the deadline for this petition was 15apr03 with amazing 669 people signing. It is great to go through comments of those who signed, e.g. "I want to make money but don't have a job." .......whoaaaa One thing for certain - you made it to my "buddy" list...
Forget the article. Every post I've seen from you lately has been nothing other than "sky is falling" type posts. But ok! To each their own. LOL!
It's true that I believe that equities will get hit by housing/manufacturing recession. Anyone who claims these "contagians" can be contained is ignoring history. So, yes, I am somewhat bearish now. I also believe in the compelling case that Shiller's has made for residential real estate melting down, at a time when it represents the biggest bubble that has ever existed in the history of the world. But I like Valero and some oil service sector stocks. I also like the Nikkei. Bottom line: Blame Bloomberg and The Wall Street Journal when I post an article that is bearish in tone. You got hit with Kudlow's Goldilocks stick.