Friday, November 07, 2008

Unemployment rate leaps to 6.5%

I know, that figure is bogus - the true rate is actually much higher - but the jump today was much greater than analyst expectations.

Other potential bad news due out today:

- Pending home sales: 10:00 EST
- Wholesale Inventories 10:00 EST
- Consumer Credit 15:00 EST


Black Star Ranch said...

....unemployment skyrocketing, many states now needing to borrow from the Fed to fund their unemployment benefits funding. Michigan has been borrowing from the Fed for this since 2006, many more states are in trouble now.

The official rate of unemployment is scary enough - lets not dabble in the REAL WORLD of statistics.

jerry said...

I read that one government agency calculated that the real official figure for unemployment when adding in those who gave up looking, the underemployed, etc to be 11%.