2+2=1?

On November 5, the Labor Department reported the number of people filing initial claims for state unemployment benefits fell to 512,000 in the week ending October 31, 2009. (For seven days in October, not counting the rest of the month, 512,000 people lost their jobs!)

On November 6, the Labor Department reported jobs lost in October were 190,000 total (non-farm.)

What is this, the new math?

The unemployment rate continues to climb, and has now reached 10.2%. However, true unemployment, which includes everyone (called U6, according to the government), is 17.5%.

Thoughts???

Till next time,

Bill


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