{"id":189193,"date":"2010-05-07T20:36:00","date_gmt":"2010-05-08T01:36:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/05\/07\/economics-update-56\/"},"modified":"2010-05-07T20:36:00","modified_gmt":"2010-05-08T01:36:00","slug":"economics-update-56","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/05\/07\/economics-update-56\/","title":{"rendered":"Economics Update"},"content":{"rendered":"
Click for full size<\/p>\n
\n

<\/a> Unemployment Population Ratio: Still Not Back
<\/span><\/div>\n

The lede here has to be the non-farm payroll (NFP) numbers for April, which were very, very<\/span>, good<\/a>.<\/p>\n

There was in increase in payrolls of 290,000 , which was the largest increase since March of 2006<\/a>, and manufacturing added 44,000 jobs, the largest increase in 12 years<\/a>. <\/p>\n

Additionally, as Paul Krugman observes, “My favorite indicator from the household survey isn’t the unemployment rate, it\u2019s the employment-population ratio \u2014 and that\u2019s up, from 58.6 to 58.8<\/a>.”<\/p>\n

It’s been rising since December.<\/p>\n

Unfortunately, unemployment worsened<\/a>, though part of this was discouraged workers returning to work:<\/p>\n

But. Keep an eye on those unemployment rates<\/a>. The headline figure is back up at 9.9%, the highest it\u2019s been this year. The U-6 underemployment rate is a gruesome 17.1%. And U-4, which is total unemployed plus discouraged workers, has hit a new high of 10.6%.”<\/p><\/blockquote>\n

Even at nearly 300,000 new jobs a month, it will take years for these people to find work again.<\/p>\n

Additionally, we have the short-term good\/long-term bad news that consumers are using credit once again<\/a>. Consumer borrowing rose by $2 billion in March.<\/p>\n

In energy and currency, it appears that Greece, and the recent UK elections have created uncertainty, which has driven oil prices lower<\/a>, and the dollar was mixed<\/a>, up slightly versus the Pound, and down slightly versus the Euro.<\/p>\n","protected":false},"excerpt":{"rendered":"

Click for full size Unemployment Population Ratio: Still Not Back The lede here has to be the non-farm payroll (NFP) numbers for April, which were very, very, good. There was in increase in payrolls of 290,000 , which was the largest increase since March of 2006, and manufacturing added 44,000 jobs, the largest increase in …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,975,1135,1004,1089],"tags":[],"class_list":["post-189193","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-employment","category-energy","category-finance","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189193"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=189193"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189193\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}