What the Unemployment Numbers Mean for Wall Street
Sorry to be the bearer of bad news... but, hey, at least people are being honest about it.
From The Big Picture:
"The 2001 recession took 47 months for that full jobs recovery to prior levels; I expect this time around, we are looking at more like 60-70 months.
While some have derided this as an unacceptably long time, it is consistent with other post-credit crisis recoveries, according to the data from Reinhart & Rogoff.
From an economic perspective, this month’s data should show a continuation of the gradual improvement we have seen the past 6 months. There will be some seasonal anomalies due to the Holidays, but overall, an increased number of private sector jobs should have been added last month. Bloomberg consensus is for a gain 150,000 gain in payrolls, with the unemployment rate slipping to 9.7%. The past month revisions have mostly been positive; look to see what they reveal as well.
From a market perspective, there are reasons for concern."