HUGE JOB LOSSES FOR NOVEMBER, NOT THE END OF THE WORLD

Don't think I am crazy, but I think we are beginning the path to recovery. I was shocked that we gained jobs a year ago. With the real estate market falling apart, how could we be gaining jobs in the first half of 2008? Realtors, lenders, title agents, home inspectors, repair people, appraisers, builders, construction workers, furniture sales people and on were out of jobs a year ago. Why were we still gaining. Most of all, the real estate flippers and others making tons of money in the hey day, stopped buying all the goodies! The reality is the jobs market is a lagging indicator. I believe things are getting better. I don't know when everything will turn around, but things will be getting better. If you are one that is or has lost your job recently, it is going to be tough. I have sympathy for you and am not meaning to disrespect your position. Everything is cyclical and some get hurt in the beginning and others at the end of a cycle.
I know one positive note, houses are selling at a much greater pace than a year ago! That is at their adjusted values, buyers are now seeing value again. A rental property with an actual down payment, will cash flow today!
Just my opinion...Jeff Cameron


Employers cut 533,000 jobs from nonfarm payrolls in November, the sharpest job loss since December 1974 and much more than the 340,000 decline economists had expected. The unemployment rate rose to 6.7 percent from 6.5 percent.
The prior two months' job losses were revise to show that a total of 199,000 more jobs were lost than previously thought in September and October. That means 1.25 million jobs were lost in the last three months alone, bringing the total to nearly 2 million since the start of the year.
But unemployment is a lagging indicator, telling investors what has been more than what lies ahead.
read the rest of the article: http://www.cnbc.com/id/28067738