{"id":191308,"date":"2009-09-04T17:24:00","date_gmt":"2009-09-04T22:24:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/09\/04\/economics-update-156\/"},"modified":"2009-09-04T17:24:00","modified_gmt":"2009-09-04T22:24:00","slug":"economics-update-156","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/09\/04\/economics-update-156\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<div style=\"border: 1px solid black; margin: 0px 10px; width: 410px; float: right; text-align: center;\"><a href=\"http:\/\/img32.imageshack.us\/img32\/3565\/employpopaug20097842354.jpg\"><img decoding=\"async\" src=\"http:\/\/img32.imageshack.us\/img32\/3565\/employpopaug20097842354.jpg\" bordercolor=\"white\" border=\"0\" width=\"400\" \/><\/a><img decoding=\"async\" src=\"http:\/\/img228.imageshack.us\/img228\/9423\/parttimeaug20097986754.jpg\" bordercolor=\"white\" border=\"0\" width=\"400\" \/> <img decoding=\"async\" src=\"http:\/\/img197.imageshack.us\/img197\/2972\/averageweeklyhoursaug82.jpg\" bordercolor=\"white\" border=\"0\" width=\"400\" \/><span style=\"font-style: italic;\">Employment-population ratio, part time for economic reasons, and hours worked economic graph pr0n courtesy of <a href=\"http:\/\/www.calculatedriskblog.com\/2009\/09\/employment-population-ratio-part-time.html\">Calculated Risk<\/a><\/span><\/div>\n<p>The employment numbers are out, and you can look at the cup as half empty or half full, with <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601068&amp;sid=aa.NY.SpFOnY\">non farm payroll falling by 217K, but unemployment (U3) spiking to 9.7%<\/a>.<\/p>\n<p>Note that the drop was less than the 276K in July (up from 246K following revisions),  U6, the broadest measure of unemployment, and the one closest to the Depression era metric,<sup>*<\/sup> spiked to 16.8%.<\/p>\n<p>Other than that, there was not a whole bunch of news, priobably because the upcoming Labor Day holiday, though <a href=\"http:\/\/money.cnn.com\/2009\/09\/04\/markets\/bondcenter\/bonds.reut\/index.htm\">Treasuries fell<\/a>, and their yields rose, as a result of the job numbers, which also <a href=\"http:\/\/money.cnn.com\/2009\/09\/04\/markets\/oil.reut\/index.htm\">drove oil<\/a> and the <a href=\"http:\/\/money.cnn.com\/2009\/09\/04\/markets\/dollar.reut\/index.htm\">US dollar<\/a> up, so the markets considered all this generally good news.<\/p>\n<p>Minor, as I write this though, the FDIC bank closing page does not have any closings yet.<\/p>\n<p>Normally, they like to move on 3 day weekends, it gives them more times to get things done.<\/p>\n<p><sup>*<\/sup><span style=\"font-size:78%;\">Though still more conservative than the 1930s version, so we are getting <span style=\"font-weight: bold;\">very<\/span> close to the 25% rate at the height of the Depression.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Employment-population ratio, part time for economic reasons, and hours worked economic graph pr0n courtesy of Calculated Risk The employment numbers are out, and you can look at the cup as half empty or half full, with non farm payroll falling by 217K, but unemployment (U3) spiking to 9.7%. Note that the drop was less than &hellip;<\/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],"tags":[],"class_list":["post-191308","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-employment","category-energy","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191308"}],"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=191308"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191308\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}