While the monthly change [-190,000] in non-farm payroll employment is the lowest since the first of the year, the overall unemployment is up to 10.2% – not good. I have no clue if this is something that denotes a change, or just the way recovery goes. The problem with economics as a science [?] goes is that there’s some cybernetics with the numbers – the reporting of the indexes itself is a factor in what happens next.
But sometimes, one is fooled, at least at first. This morning, the papers are full of Unemployment 10.2%! yet the Dow Jones is going up, at least for now [10:15AM].
But not for long [10:45AM]…
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