Sunday, May 10, 2009

Real Unemployment Fell For Once

The U6, the real measure of unemployment taking in underemployed and marginally unemployed workers fell for the first time in ages between March and April 2009. This could be a result of either discouraged workers simply giving up (more likely), or that more part time workers are becoming full time (very unlikely). I can only hope there is so of the latter occurring since the economy is so consumption based on that has fallen off a cliff on the news that people without jobs tend not to buy much.

On another note, I have heard anecdotally that some businesses related to people taking shorter vacations closer to home have done well. Places like local wineries, bed and breakfasts, and day spas have seen stable to increased business, likely because nobody can afford/wants to take the risk of their job not being there from taking a long vacation. Maybe this will help build back some of the main streets which have been decimated by big box stores, just maybe.

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