The US labour market has improved but more stimulus is required

On Tuesday I provided some analysis in this blog – US labour market is in a deplorable state – of the latest US Bureau of Labor Statistics Employment Situation release for September 2012. Today, I add some more calculations and analysis that I didn’t get time to write up for that blog. The UK Guardian article (October 17, 2012) – US jobs data reveals economy is bouncing back strongly from recession – would appear, on first appearances (comparing titles), to be at odds with the message I imparted in the Tuesday blog. But on closer inspection you will see that the message is consistent across both pieces of analysis. And what I provide today will bring that concordance into relief.

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