We Only Lost 250,000 Jobs in June!!!!!

Good times, Good times. Today's June unemployment report came out today and it was a "beat" at -250k jobs. This means that we were expected to lose way more than 250,000 jobs. I'm reasonably sure the Federal Government played with the numbers to make them look less bad but they can only do so much messing.

The funny thing is we lost 250k jobs but the unemployment rate went down from 9.5% to 9.4%. How is this possible? Easy they don't count people who have used up their unemployment benefits which are currently at 19 months after several Federal extensions. People who can't find a job are no longer unemployed after 19 months, I'm not sure what they are but they aren't unemployed that's for sure. See things are getting better.




Just to put it in perspective unemployment was 8.7% in 1930, the year after the crash, in 1931 it raises to 15.9, 23.6% in 1932 and peaks at 25% in 1932. That was the last credit induced "correction", I'm sure we've learned from our mistakes and that could never happen again.....