Joblessness…

Once again,  the government green eye shade gang was WAY off on the forecast of  jobs created last month,  resulting in a rise in the unemployment rate to 9.8%.

And it’s likely  to hit 10% in the not too distant future.   As Samuel Staley puts it,  we look to be in for  a lost decade of our own.  J.D. Foster  helpfully notes the  payroll survey shows total employment has been essentially flat for 6 months,  and the household survey is worse:  flat for 8 months.