04 Sep 2009

Unemployment: "What goes up, must come down / spinning wheel, got to go ’round"

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Apparently Blood, Sweat and Tears work for CNBC:

Unemployment Jumps to 9.7%, But Pace of Layoffs Slows

The pace of U.S. job losses hit a one-year low last month but the unemployment rate jumped to a 26-year high of 9.7 percent, the government said Friday in a report showing a slowly improving labor market.

Suppose there’s another crash in September, and unemployment jumps up to 11 percent by the following report? I imagine we’ll see commentators discussing the decline in the third derivative of the 140-year moving average of the “improving labor market.”

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