It was announced this morning (June 5, 2009) that the unemployment rate has risen to a 26-year (August of 1983) high of 9.4% from 8.9% in April. The silver lining though is that we only lost 345,000 jobs in May compared to a loss of 504,000 jobs in April. As I’ve been saying, it will be the 4th Q before we get to any positive growth but at least the decline is slowing.
Anthony Vincent