Feb 052010
Mixed reaction on today’s release. Lots of moving parts – uncertainty in the details, despite drop in overall unemployment rate.
Get the street analysis here:
Complicated data – Ethan Harris of Bank of America Merrill Lynch: VIDEO
There is hope – Jim Glassman of JP Morgan: VIDEO
Outlook is bleak – James Shugg of Wespac Banking Corp: VIDEO
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With all due respect, the drop in unemployment numbers are just not believable. Most people are wondering incredulously how those numbers are calculated. No, I don’t believe for a minute that the unemployment numbers have fallen.
Agreed. To add fuel to the fire…the unemployment rate comes from a different survey than the payroll numbers.