We already learned that the one biggest red flag in unemployment data had been raised when we found that the labor force participation rate was the lowest since 1984. Now we find that the other critical data point: average length of unemployment, just hit a new all time high of 40.4 weeks in July, up from the previous record of 39.9 in June. Someone should tell the average American who is rapidly approaching one year in average unemployment that the stock market soared on good payroll news. They will be delighted.

Hell, the stock market went up when they heard the news of high unemployment and higher corporate earnings. This means that businesses are raking in the profits and paying fewer employees. Good things for investors(at least short term).

Obabba cannot run on his record. One termer, Jimmy Obabba.

Jimmy Obabba. I like it.

(08-06-2011 10:56 PM)Paul M Wrote:  Jimmy Obabba. I like it.

Paul Moron. I like it.