TheRod

Friday's Employment Report: A Sobering Dose of Reality

These unemployment #'s are unindicative of reality - Construction labor (non illegals) in this country are generally flying under the radar of employment accounting due to the fact that most are 1099's - contract labor -

When they got their last paycheck we didn't know it in Labor Dept stats - but they too will contribute their part to the end of the Age of Consumerism -

These 1099's won't help the economy until some sanity returns to Housing/Banking -

So when you see the 6.1% Unemployed - it's probably another 0.8%
or a total right now of 6.9%.