US jobs increased by 200,000 – key benchmark for what is needed to keep up with growing population/labor force, according to data just released this morning. The late summer swoon in large part caused by the Eurozone crisis/swoon had raised real risks that recovery since 2009 would reverse course back into full recession. This is a definitively upward trending taking into consideration last few months and continues to impact the US unemployment rate – now at 8.5% - lowest since February 2009. (US weekly unemployment claims have also been gradually lowering – below another key level of 400,000 per week). All of this is noteworthy beyond just taking note of data and it would appear to bode well for:

 US economic (and to degree global) prospects;

 US Dollar is further boosted;

 President Obama’s prospects appear significantly better.


There is also other upward trending job news including hours worked (34.4 for December as compared to 34.3 for November per week).


However, there also continues some chronic bad news. Many US workers are dropping out of the labor force completely, having been long frustrated, given up and perhaps now permanently displaced. The underemployed + unemployed figure is also still historically high and above 15% despite a slight drop. Eurozone crisis persists and likely to be a drag for at least year plus.


All is relative though, and the US economy, President Obama’s election prospects and today look better as at least compared to yesterday.


“International Financial Crisis” Channel - diplomaticallyincorrect.org/c/international-financial-crisis


By Ambassador Muhamed Sacirbey


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