More in the not-so-great news vein: weekly initial unemployment claims ("1st time unemployment claims") are relatively high, the unemployment rate increased in 43 states last month and the number of job openings in the economy during November was near a record low. In the slightly more positive news front, temporary job openings are up.
More better, sooner? Let's hope so. (Much thanks to Calculated Risk, who covers breaking economic news like no other.)
Interesting data curves. For all recessions, a roughly symmetrical, parabolic curve of job loss percentages seems to hold. Extrapolation of the current recession indicates that the job loss phase will be over 18 to 20 months from now.
ReplyDeleteHmm, that does seem reasonable Peabody. I think for the general economy that may be true. But the chemical industry is in for a long drop in employment. AstraZeneca just announced some more layoffs, adding some more fuel to the layoff fire.
ReplyDeleteBut if anyone is getting really confident about their predictions, they can put their money where their mouth is on intrade.com.