Friday, June 5, 2009
This is probably the best chart for demonstrating that we have seen the worst of the jobs deterioration. The unemployment rate jumped to 9.4% in May, but that might well prove to be the high. The pace of layoffs has dropped; the pace of job losses has dropped: the pace of unemployment claims has dropped; claims as a percent of the workforce has dropped. We've clearly passed through an inflection point.
Posted by Scott Grannis at 1:09 PM