Today’s job number came in as expected (217K added Vs 215K Expected), pushing the official unemployment rate to 6.3%.
Is this recovery a real deal or a bunch of nonsense?
You be the judge, but if we study the chart above the answer becomes painfully obvious. If we are to add back the unemployed, the underemployed and those who are not looking (gave up) but want a job, the number jumps to 12.5%. Making today’s economic recoveries one of the weakest on record.
So, we are left with two possibilities here. The job growth is simply lagging the stock market and we will soon get a surge in hiring, capex spending, corporate profit growth, etc…. -OR- the stock market is in a massive bubble and this job growth (however weak) has nearly maxed out. Unfortunately, based on my mathematical and timing work, it’s the latter.
What You Ought To Know About The Real Unemployment Rate Google