The Other American Lost Decade
Jun. 25th, 2009 10:17 amFrom the jobs report:

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In the week ending June 20, the advance figure for seasonally adjusted initial claims was 627,000, an increase of 15,000 from the previous week's revised figure of 612,000. The 4-week moving average was 617,250, an increase of 500 from the previous week's revised average of 616,750.Last week's figure was revised up from 602,000, iirc. Funny how these things never get revised down. Mish: "Between May 1999 and May 2009, employment in the private sector sector only rose by 1.1%, by far the lowest 10-year increase in the post-depression period... Within months, the economy will have lost jobs over a full decade for the first time since the Great Depression. Moreover no job recovery is in sight."

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