Payrolls
Posted by WARREN MOSLER on November 6th, 2009
Karim writes:
Apart from net revisions, this employment report pretty much stinks:
- Jobs -190k
- UE rate from 9.8% to 10.2%; ‘Total’ unemployment rate from 17% to 17.5%
- Hours down 0.2%
- Difffusion index down from 37.5 to 33.8
- Median duration of unemployment up 1.4 weeks to 18.7
- Manufacturing jobs -45k to -61k (so much for ISM employment index as a leader)
- Retail and construction still soft; modest improvement in temp jobs and education
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November 7th, 2009 at 1:11 am
fyi:
http://worthwhile.typepad.com/worthwhile_canadian_initi/2009/11/a-monetarist-theory-of-neochartalism.html
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Scott Fullwiler Reply:
November 7th, 2009 at 11:03 am
Just jumped in. The discussion is so far off at this point, don’t know if we’ll actually even get to the point at which MMT is understood, much less critiqued. Worth a try, though.
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JKH Reply:
November 7th, 2009 at 11:29 am
Yes, that look’s like a good starting point. I’m going in a bit later.
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Ramanan Reply:
November 8th, 2009 at 4:10 am
Mark Thoma has mentioned it in this blog – links for today – http://economistsview.typepad.com/economistsview/2009/11/links-for-2009-11-07.html
Plus – more people noticing
Minus – Scott’s point – so far off the topic.
JKH Reply:
November 8th, 2009 at 9:30 am
Ramanan,
I suspect you didn’t mean Scott’s point.
Ramanan Reply:
November 8th, 2009 at 9:40 am
JKH,
I meant: As Scott points out, the blog post at WCI is so far off the topic. So people who happen to read Nick’s post may get wrong ideas of what Chartalism is.
JKH Reply:
November 8th, 2009 at 9:56 am
Right! Sorry! I finally read as you intended it a millisecond after I posted my comment. Moi dense.
November 7th, 2009 at 2:23 pm
This is better than the Monty Python sketches which Warran has kindly made available:
http://stefanmikarlsson.blogspot.com/2009/11/obama-administration-claims-that.html
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