9.7% unemployment Green shoots?

[ByLoSellHi]

Quote from [Proximo]:

Previous month revised higher.

Quote from logikos:

June was revised higher as well.

August will be revised higher, too. It's a perpetual game.

 

[wartrace]

Quote from gkishot:

It's better than it was during the Great Depression. What's not to cheer about?

Is it? The reported number today is vastly different than it was back then. Use the U-6 number for a truer comparison.

 

[Daal]

Quote from wartrace:

Is it? The reported number today is vastly different than it was back then. Use the U-6 number for a truer comparison.

There was a U6 back then too. It reached 45% IIRC

 

[ByLoSellHi]

Wait until job losses start increasing again as the service sector, health care and government (areas more immune in the past) start increasing layoffs dramatically.

That's going to be the October surprise...

 

[CaptainObvious]

Biden hails stimulus benefits, says 500,000 jobs created. Biden said... “Instead of talking about the beginning of a depression, we are talking about the end of a recession.’’
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2564049

No worry Folks, it's all good.:eek:

 

[Kassz007]

Unemployment rates such as this were priced into the markets a long time ago. Everyone knew unemployment would reach these levels, so why is anyone suprised? To be honest, I'm suprised it's not HIGHER.

My theory is to watch out when unemployment starts DECREASING. That's when the market will start pricing in rate hikes. Sounds kind of backwards but I think the market does indeed look that far ahead.

 

[Ivanovich]

LOL! The Birth Death model added over 50% of the jobs to August.

Fantastic! What an unbelievable farce this is.

 

[krazykarl]

Quote from nutmeg:

I saw an article which had Detroit at 28% unemployement.

I live here. It's not that high.

 

[S2007S]

What happens when 1 million+ people lose unemployment benefits in the next couple of months, are these factors still placed into the weekly job reports.

 

[Landis82]

Quote from Kassz007:

Unemployment rates such as this were priced into the markets a long time ago. Everyone knew unemployment would reach these levels, so why is anyone suprised? To be honest, I'm suprised it's not HIGHER.

My theory is to watch out when unemployment starts DECREASING. That's when the market will start pricing in rate hikes. Sounds kind of backwards but I think the market does indeed look that far ahead.

Agreed.

And I'm not all that surprised ( given the amount of "noobs" in this place ) that people can't seem to recall the 2001-2002 period when the Unemployment rate lagged the recovery for as much as 19 months.