Economy Screwed Up because 8% of Real Workforce Is Idle

Written by Steven Hansen Over last weekend Econintersect issued its October 2012 economic index.  The October index value had dropped precipitously – the largest one month drop since January 2009.  However the index was not (yet?) indicating Main Street was in a recession.  One reader offered an observation: ….that the middle class (say the middle …

Bizarre Week: Wall Street Takes a Dive

Weekly Initial Unemployment Claims exceeded levels of the corresponding week in the previous year for the first time in two years. Yet the non-farm payrolls numbers grew by a healthy 244,000. The bizarre contradictions were emphasized by sharp drops in commodities, smaller declines in stocks, and disappointing reports on productivity and from the ISM non-manufcturing survey.