Friday, May 8, 2009

US jobless rate at 8.9%!

The labour market in the US is still correcting itself.

In the FT report, the manufacturing sector has been the hardest hit.

I think this was bound to happen. The labour market is adjusting and correcting itself to international competition from the Emerging Markets.

It will bottom out, soon, and then, make a modest return as soon as credit seeps into personal loan bank sheets as well as automobile loans pick up.

I think we can kiss goodbye to the days of Us automobile dominance.

The good news is, if this is good news, the Euro zone is weak as well.
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