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Besides, crazy as it seems ... you can't rely on a jobs report to tell you what's really happening with the economy.
As today's report points out ... the unemployment rate was just as high in 1993 ... nearly two years after the 1990-1991 recession was over. Yet that was the beginning of a phenomenal bull market up to 2000.
Jobs are always the last to go during a recession and jobs are the last to come back during the recovery.
Now here's a question for you.
Was the calculation for unemployment the same in 1993 as it is today ?
Were the same data sets used ?
If not, then they cannot compare equitably.
The 1993 stats compared to today is apples and oranges as they HAVE changed the way they calculate unemployment which is to disqualify more people from the count.
We've already had our traditional big sell off month in October. The people who were going to sell have already sold.
We had big sell off months all year. This is not your typical year.
I'll wager there's very few folks that need to sell this October to claim some losses.
Regarding unemployment figures compared to years ago, below is a link to alternate data. It compares unemployment percentage of today, with the same data if they were using traditional criteria to calculate it.
A couple months ago I think it came in around 15% using the old method. I wonder what it'd be today.
Regarding unemployment figures compared to years ago, below is a link to alternate data. It compares unemployment percentage of today, with the same data if they were using traditional criteria to calculate it.
A couple months ago I think it came in around 15% using the old method. I wonder what it'd be today.
The game has been rigged for a while but now it's too obvious.
The fundamentals went out of whack last year but it was subtle and spatters of good news covered it up. The alternate sites all said "get out" last year.
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