Thursday, March 3, 2011

Gallup: New Unemployment Rate Surges to 10.3%

Just like clockwork you have various media sources claiming that a drop in jobless claims is a big deal.  However, logic tells us that at some point companies just run out of people to get rid of so of course job losses are going to peak at some point.  For that reason, the "new jobless" rate is not the major statistic to me, but rather the new jobs/job openings rate.  Which is, sad to say, not good.  Add in the surging gas prices (which some informed people predicted even back in 2005 could cause another recession) and there doesn't appear to be a lot of positive economic news on the horizon.  I truly hope the economy turns around, and am not a doom-and-gloomer.  But I am a realist.  And the reality is still very concerning, to say the least.

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