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Notes to myself, possibly of interest to others.
-- Bill Northlich

Tuesday, August 24, 2010

Employment: Depression level

"...we could see a situation where another 4 to 5 million jobs could be shed in the United States", baed on further housing declines and associated layoffs, and, on public sector declines - according to Rosenberg [last post].

Note that an additional 5 million, on top of the current 14.6 million, would equate to top-line unemployment of about 12.4%, and U6 (real, including short-term discouraged and "temporary" part time workers) of well over 20%. This is soon to be an acknowleged depression, folks.

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