From Jim Gilliam's blog archivesSmoking up the Economy
July 3, 2003 11:08 AM
The unemployment rate continues to rise, with the "biggest month-to-month increase in unemployment since immediately after the Sept. 11, 2001, terrorist attacks." The report revises May's number, leaving us with 100,000 fewer jobs in the last two months.
Rest assured though, the analysts are quick to point out that the unemployment rate is up only because there are more people looking for work! It's really not all that bad. Of course, these are the same analysts that are still waiting for the "post-Saddam bounce."
I think Wall Street must be smoking crack now. They've lost so much money, they can't afford cocaine anymore.
Smoking up the Economy (07.03.2003)
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