How is that “Hope and Change” working out for the country? Dispatches recommended by Mike Shedlock:
Thoughts on the Jobs Report.
Last month I commented things are awful at first glance and simply bad beneath the surface. This month things took a huge turn for the worse.
Three months ago I commented “It is very questionable if this pace of jobs keeps up.” Clearly it didn’t, for the second straight disastrous month. Certainly this cannot all be blamed on the Tsunami in Japan. The entire global economy is slowing rapidly as I have commented numerous times.
Economists projected a drop in the unemployment rate, I called for a rise to 9.2%.
Few were prepared for today’s grim numbers.