{"id":192409,"date":"2009-04-03T17:29:00","date_gmt":"2009-04-03T22:29:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/04\/03\/economics-update-246\/"},"modified":"2009-04-03T17:29:00","modified_gmt":"2009-04-03T22:29:00","slug":"economics-update-246","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/04\/03\/economics-update-246\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<div style=\"border: 1px solid black; margin: 0px 10px; width: 410px; float: right; text-align: center;\"><img decoding=\"async\" src=\"http:\/\/img222.imageshack.us\/img222\/2963\/employmentmeasuresmar09.jpg\" style=\"margin: 0px; cursor: pointer;\" width=\"400\" \/><span style=\"font-style: italic;\">Scare Pic of the day courtesy of <a href=\"http:\/\/www.calculatedriskblog.com\/2009\/04\/employment-report-663k-jobs-lost-85.html\">Calculated Risk<\/a><\/span><\/div>\n<p>Today&#8217;s lede has to be <a href=\"http:\/\/www.cnbc.com\/id\/30027467\">the unemployment numbers<\/a> with non farm payrolls dropping 663,000 in March and unemployment (U-3) hitting 8.5%.<\/p>\n<p>It should be noted that if you use the broader U-6 metric, then <a href=\"http:\/\/www.bls.gov\/news.release\/empsit.t12.htm\">unemployment is 15.6%<\/a> up 6.3% from last March&#8217;s 9.3%.<\/p>\n<p>We also have the <a href=\"http:\/\/www.bls.gov\/news.release\/empsit.nr0.htm\">number of involuntary part-time workers increasing from climbed by 423,000<\/a>,  to 9.0 million, and <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601110&amp;sid=aw8TdgctwL9Q\">the contraction of service industries is accelerating<\/a>.<\/p>\n<p>The best metric of the employment situation may be the employment-population ration, and it <a href=\"http:\/\/www.bizjournals.com\/denver\/stories\/2009\/03\/30\/daily86.html\">fell to 59.9%<\/a>, the lowest level since 1985.<\/p>\n<p>BTW, remember when I posted about UK house prices going up for the first time since 2007 in March?  <a href=\"http:\/\/ftalphaville.ft.com\/blog\/2009\/04\/03\/54443\/despair-uk-house-prices-fall-or-the-battle-of-mortgage-data-providers\/?source=rss\">Not sop much<\/a>, alternate data shows another fall in prices.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/2009\/04\/03\/markets\/oil\/\">The <\/a><a href=\"http:\/\/money.cnn.com\/2009\/04\/03\/markets\/dollar.reut\/index.htm\">dollar rose<\/a> on a flight to safety after the crappy jobs report, and <a href=\"http:\/\/money.cnn.com\/2009\/04\/03\/markets\/oil\/\">oil fell for the same reason<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Scare Pic of the day courtesy of Calculated Risk Today&#8217;s lede has to be the unemployment numbers with non farm payrolls dropping 663,000 in March and unemployment (U-3) hitting 8.5%. It should be noted that if you use the broader U-6 metric, then unemployment is 15.6% up 6.3% from last March&#8217;s 9.3%. We also have &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,975,1135,1088,1089],"tags":[],"class_list":["post-192409","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-employment","category-energy","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192409"}],"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=192409"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192409\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}