I am spending this morning on the other blog. I started the project in shameless imitation of John Michael Greer's "Stars Reach", but ran into a case of serious writer's block. I am now trying to catch up on the writing and reacquaint myself with the characters.
The only current thing that I really have to comment on is the following. A hat tip to the folks over at ZeroHedge. I only changed the formatting to make it easier to understand.
Here are the four most important data points and charts from today's job report:
- the civilian labor force declined from 154,198,000 to 153,883,000, a 315K decline despite the civilian non-institutional population increased (as expected) from 240,269,000 to 240,441,000: always the easiest way to push down the unemployment rate. Percentage wise this was a drop from 64.2% to 64.0%: the lowest since back in 1983.
- Naturally, this would mean that the people not part of the labor force rose, and indeed they did by 487,000 to a record 86,558,000 from 86,071,000.
- This also means that more people are looking for a job: and indeed, the number of "Persons who want a job now" rose by 192K to a record 6.595 million.
- And lastly, confirming the behind the scenes disaster of the US jobless picture, the average duration of unemployment rose to a new record 40.9 weeks from 39.4 weeks previously. And that is your "improving" jobless picture in a nutshell.