First the good news
The number of people unemployed for less then five weeks is clearly on a downward path. That's good. However
The 5-14 weeks number is still increasing as is
The 15-26 weeks and
The 27 and greater weeks.
Here's what I think is happening. The longer unemployment times are structural issues. For example, construction workers who are going to out of work for some time because of the low level of housing starts etc... But the decrease in the shorter time is a very good development and indicates the longer term unemployment picture may approaching its worst level.
2 comments:
http://www.doleta.gov/unemploy/chartbook.cfm
you need to post the exhaustion rate graphs along with those .. the only reason the total is going down is because people are being kicked off the rolls after using all their benefits.
also, post this one:
Net Trust Fund in State Accounts
heck, most of those options show bad #'s and are worthy of posting.
Why would you not post the exhaustion rate graphs?
unemployment is much worse than reported in the msm.
when 50% of people lose (max out) all benefits without getting a job, that speaks to a huge uptick in defaults on all types of credit. (esp considering the lag in exhaustion graphs/data)
the latest noticed inconsistency:
people stop paying first mortgage, but keep up on the helioc. even though recourse rules are opposite of what they think/know.
Speculation is that credit cards are maxed, banks are not foreclosing, so try to keep the second alive for access to cash until the keys get mailed in.
Post a Comment