October 02, 2009

US Employment Situation September 2009

Mike (Mish) Shedlock has a good summary of the current US employment situation at his Blog Post http://globaleconomicanalysis.blogspot.com/2009/10/jobs-contract-21th-straight-month.html 

The actual employment report of Bureau of Labor Statistics is available here: http://www.bls.gov/news.release/empsit.nr0.htm

US jobs have now contracted for 21 straight months as the unemployment rate hits 9.8%.  Since the US economy is largely consumer driven (roughly 70% of GDP depend on consumption), any real and sustainable recovery will depend on jobs.  


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