The Ugly November Jobs Report
The jobs report is in, and unemployment doesn’t look so good coming in at 6.7%. But we need to realize that this is actually about in line with historic norms of an unemployment rate around 7%. The current unemployment rate would need to double to reach the 81-82 recession levels, and is still nothing compared to the 25% levels seen during the Great Depression. We wouldn’t be surprised to see this number continue to hike up. “Experts” see this number reaching 9% by the end of 2009, we wouldn’t be surprised to see this number enter double digit territory by then. Yet another reason to continue to invest in businesses that make products people will continue to consume…even without a job.
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