The HS Dent Financial Blog

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10.2%… Ouch!

In the bizarro world of financial markets, our narrowly measured unemployment rate rose above 10% in the month of October and now the markets have inched higher. 

I did see a couple of people taking solace in the fact that the number of job losses is slowing, indicating that on the current slope we will be in positive territory by late spring of 2010.  I understand that.  I don’t agree with it, but I understand it.  The measure of the civilian labor force, or the number of people eligible for work, has continued to slide, which makes the measure of unemployment look better than it actually is.  We’ll see.

There is no good way to spin a move higher that goes over 10%.