EXCERPT: “Initial jobless claims dropped 1k to 266k (from a downwardly revised 267k) remaining near 43-year lows.Here’s why that’s odd…
Who do you believe?”
Question: How can initial jobless claims be going DOWN when one, the quarterly GDP is a shambles, and two, productivity is on a wicked downward trend? As Zero Hedge says, “someone’s lying!” The U6 number is 9.7% and actually, if one tabulates the 95 million Americans OUT of the workforce, likely for a very long time, the REAL unemployment number is over 20%.
Excellent read (and comments) at: