US Economy lost another 533,000 jobs in Nov.

[mRx 16]

It's tragic how many people are losing their jobs. But that is the effect as the inflationary business cycle comes to a close.

And it's sad that the economic advisers think that we can just bury this problem with money. It didn't work in the '30s and it doesn't work today. Intervention only ensures a prolonged and painful depression.

Only now we are in alot more trouble; we no longer have a commodity backed currency, we aren't much of a manufacturing nation, and we have no real wealth.

I just hope that the someone in DC can convince the monetarists the fatal flaws of intervention.

[Heracles 417]

Ah, you see I was right all along, BY reads what he wants to see, not what is written Have fun kids

No. I just understand that all issues are intertwined, like when it comes to this financial meltdown. While sub-prime might have been the trigger it is not the underlying cause. So when we are discussing this financial mess we may have to discuss other topics such as attitude changes towards savings and spending over the years etc. I am just puzzled by you and six who lived abroad for so many years yet apparently don't see any culture difference between yanks and Poms. I mean Canadians and Americans are quite different yet they live next to each other.

[웃 910]

Should be a great buying opportunity today. The DJIA is negative 170 points in the pre-market. Thanks for the post.

As I said first thing in the morning, excellent buying opportunity, thanks for the post. What did I do first thing in the morning? I loaded up 410 shares of HIG at $10.50 ($4,305)...What is HIG at right now? $15.75 ($6,457.50). I just gained an AOS fee two times over in about 6 hours.

Edited December 5, 2008 by Confucian

[Trumplestiltskin 5,791]

Ah, you see I was right all along, BY reads what he wants to see, not what is written Have fun kids

No. I just understand that all issues are intertwined, like when it comes to this financial meltdown. While sub-prime might have been the trigger it is not the underlying cause. So when we are discussing this financial mess we may have to discuss other topics such as attitude changes towards savings and spending over the years etc. I am just puzzled by you and six who lived abroad for so many years yet apparently don't see any culture difference between yanks and Poms. I mean Canadians and Americans are quite different yet they live next to each other.

Well this is exactly the point that was being made - you DO read what you want to see.

I do see differences - I'm not just willing to make the leap of illogic that you do to justify outrageous statements that the entire country is somehow "morally bankrupt".

That's just complete garbage.

[one...two...tree 2,762]

... the unemployment rate bolted from 6.5 percent in October to 6.7 percent last month, a 15-year high.

So 1993 was worse?

The worst employment figures since the last time that the economy was in the toilet.

No, 1993 was worse. As were 1991 and 1992.

I went to the BLS website and retrieved the monthly unemployment data series from 1948 to now.

Here's a screenshot of the data in Excel, with all values 6.7 or above in red (6.7 is 'now') and all values below 6.7 in green.

Red is as bad as today, or worse.

Green is better than today.

Great chart! Very interesting.

[Heracles 417]

Only one red square. Looks like we have a few more years of this ahead of us.

I would estimate a possible recovery to begin between 2010 to 2011.

[HAL 9000 96]

... the unemployment rate bolted from 6.5 percent in October to 6.7 percent last month, a 15-year high.

So 1993 was worse?

The worst employment figures since the last time that the economy was in the toilet.

No, 1993 was worse. As were 1991 and 1992.

I went to the BLS website and retrieved the monthly unemployment data series from 1948 to now.

Here's a screenshot of the data in Excel, with all values 6.7 or above in red (6.7 is 'now') and all values below 6.7 in green.

Red is as bad as today, or worse.

Green is better than today.

Great chart! Very interesting.

Yes gotta love AJ's Excel tables.

One thing though... since its numbers that are being looked at... and of course, any job is potentially better than NO job... but think about the industrial sectors being negatively impacted in ratio to each other in those cycles that are quite apparent and think about what's going on now.

[one...two...tree 2,762]

... the unemployment rate bolted from 6.5 percent in October to 6.7 percent last month, a 15-year high.

So 1993 was worse?

The worst employment figures since the last time that the economy was in the toilet.

No, 1993 was worse. As were 1991 and 1992.

I went to the BLS website and retrieved the monthly unemployment data series from 1948 to now.

Here's a screenshot of the data in Excel, with all values 6.7 or above in red (6.7 is 'now') and all values below 6.7 in green.

Red is as bad as today, or worse.

Green is better than today.

Great chart! Very interesting.

Yes gotta love AJ's Excel tables.

One thing though... since its numbers that are being looked at... and of course, any job is potentially better than NO job... but think about the industrial sectors being negatively impacted in ratio to each other in those cycles that are quite apparent and think about what's going on now.

Alternative energies could be the next dot com job explosion.

[HAL 9000 96]

Hopefully so, Steven. At least one of them. We can already see what happens when the economic forecast was labeled as strong by those that saw increases in primary service sector coupled to ridiculously stupid economics from Washington to Wall Street as the way to go (while steadily decreasing higher-rated jobs to increase profit margins).

[w¡n9Nµ7 §£@¥€r 123]

The next 'explosion' will be in non-residential and non-commercial construction.

We already have the cheap manpower, all those illegals who came here to work the housing boom.

And now we have the political will - massive infrastructure spending will be a big part of the 'change' we voted for in Nov.

[one...two...tree 2,762]

The next 'explosion' will be in non-residential and non-commercial construction.

We already have the cheap manpower, all those illegals who came here to work the housing boom.

And now we have the political will - massive infrastructure spending will be a big part of the 'change' we voted for in Nov.

That will help bring down unemployment, but in terms of really boosting the economy - that's going to have to come from the private sector, IMO.

[웃 910]

Came across an interesting article that paints the picture a little differently. The chart below ranks the worst months job losses as a percentage of the workforce since 1939. As seen in the chart, by far the worst month of jobs lost was September 1945, with only 38,500,000 people working, the month saw an absurd 1,966,000 jobs lost or 5.11% of the workforce. Since 1939, roughly 69 years have passed. That is 758 months worth of data on job losses. Last month's report was the 41st worst monthly report of the 758! Is it really that bad to sign up for a race of 758 participants and finish in 717th place? Yes, but we pulled through every single time so far, even when we were in far worse predicaments.

This morning's employment report showed that during the month of November the US economy lost 533K jobs which was the sixth largest monthly decline on record. However, just as a move of 100 points in the Dow was a much bigger move when the Dow was at 1,000 than it is now that we are at 8,000, a decline of 500K jobs when the workforce consists of 140 million workers is not nearly as significant as a decline of 500K jobs when the workforce consists of 40 million workers as it did in 1945. Today's jobs report was certainly nothing to get excited about, but it also wasn't the Armageddon scenario that some are making it out to be. Below we list the 41 worst employment reports since 1939.

http://bespokeinvest.typepad.com/

[w¡n9Nµ7 §£@¥€r 123]

... we pulled through every single time so far, even when we were in far worse predicaments.

Are you aware of anyone saying we won't pull through this?

[웃 910]

Came across an interesting article that paints the picture a little differently. The chart below ranks the worst months job losses as a percentage of the workforce since 1939. As seen in the chart, by far the worst month of jobs lost was September 1945, with only 38,500,000 people working, the month saw an absurd 1,966,000 jobs lost or 5.11% of the workforce. Since 1939, roughly 69 years have passed. That is 758 months worth of data on job losses. Last month's report was the 41st worst monthly report of the 758! Is it really that bad to sign up for a race of 758 participants and finish in 717th place? Yes, but we pulled through every single time so far, even when we were in far worse predicaments.

This morning's employment report showed that during the month of November the US economy lost 533K jobs which was the sixth largest monthly decline on record. However, just as a move of 100 points in the Dow was a much bigger move when the Dow was at 1,000 than it is now that we are at 8,000, a decline of 500K jobs when the workforce consists of 140 million workers is not nearly as significant as a decline of 500K jobs when the workforce consists of 40 million workers as it did in 1945. Today's jobs report was certainly nothing to get excited about, but it also wasn't the Armageddon scenario that some are making it out to be. Below we list the 41 worst employment reports since 1939.

http://bespokeinvest.typepad.com/

... we pulled through every single time so far, even when we were in far worse predicaments.

Are you aware of anyone saying we won't pull through this?

Don't take the sentence so literally, what I was saying is that the media and a lot of people in general tend to believe that we are in a far worse situation than we really are. A recession is a normal part of the business cycle.

[peejay 327]

The next 'explosion' will be in non-residential and non-commercial construction.

We already have the cheap manpower, all those illegals who came here to work the housing boom.

And now we have the political will - massive infrastructure spending will be a big part of the 'change' we voted for in Nov.

#### the illegals and the innertube they floated in on.