The Labor Department released the jobless claims this morning from the previous week. The United States has lost yet another 730,000 jobs.
And yet the media is celebrating and are “stunned” how there was a noticeable decline from the previous week.
As I continually note on these weekly jobless reports, these numbers are worse than the worst week of the Great Recession in 2009 when the main ripple effect of the tsunami-crash kicked in. The media is trying to propagandize you into thinking 730,000 is not as bad as it seems.
Do not be surprised if they have to revise these numbers like they did last week. Do not buy into the delusion. Continually prepare for the “big one” looming in the distance.
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