Saturday, December 6, 2008

Terrible employment numbers


Most commentary on the terrible employment report has focused on the establishment numbers, because the number from the household survey that usually makes headlines, the unemployment rate, didn’t rise all that much. But the jobs picture from the establishment survey looks terrible, too; what held the unemployment rate down was a reduction in the number of people who said they were looking for work.

The chart above shows the employment-population ratio, the ratio of employed Americans to the adult population. By this measure it’s been a weak economy all along — and now it’s falling off a cliff.
Here is today Krugman’s blog, scary tactics of his indulgence – people shiver gone thought their spine who read this, tries to scare us off hell, then where we go? heheh after burn off from the hell fire, then what happen? We rise again as firebirds, rise from our own ashes-nest, raising again as glittering firebirds