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It was easy to miss, but at the end of last month, Q4 07 GDP was revised into negative territory, -0.2%. Thank you. Its interesting how the downside revisions are never discussed. (But oh boy are the upside revisions.)
National employment is down YOY. I think anyone outside of the ivory tower has been feeling the recession.
However, recessions tend to not be recognized until the states have to cut spending.
I agree with unknowhoiyam, we've been in the recession 6+ months.
We've lost 500K jobs this year alone. We're shedding 70K-80K a month right now, even with June and July primed with $180B worth of "stimulus" handouts.
The job market is terrible and getting worse. Fast.
uknowwhoiyam said... We've lost 500K jobs this year alone. We're shedding 70K-80K a month right now, even with June and July primed with $180B worth of "stimulus" handouts.
The job market is terrible and getting worse. Fast.
RE: "still not in a recession'
ReplyDeleteIt was easy to miss, but at the end of last month, Q4 07 GDP was revised into negative territory, -0.2%.
It's almost certain now that we're in a recession and have been for at least 6 months.
It was easy to miss, but at the end of last month, Q4 07 GDP was revised into negative territory, -0.2%.
Thank you. Its interesting how the downside revisions are never discussed. (But oh boy are the upside revisions.)
National employment is down YOY. I think anyone outside of the ivory tower has been feeling the recession.
However, recessions tend to not be recognized until the states have to cut spending.
I agree with unknowhoiyam, we've been in the recession 6+ months.
Got Popcorn?
Neil
I dont know what to make of the economy but I see thousands of high paying jobs posted on employment sites, this is a great barometer...
ReplyDeletewww.indeed.com (keyword)
www.simplyhired.com (keyword)
www.realmatch.com (matching)
Lots of $150k jobs!
re: richard jennings
ReplyDeleteWe've lost 500K jobs this year alone. We're shedding 70K-80K a month right now, even with June and July primed with $180B worth of "stimulus" handouts.
The job market is terrible and getting worse. Fast.
uknowwhoiyam said...
ReplyDeleteWe've lost 500K jobs this year alone. We're shedding 70K-80K a month right now, even with June and July primed with $180B worth of "stimulus" handouts.
The job market is terrible and getting worse. Fast.
Yea, but iPhones are selling!!!