Maybe an this is the
explanation for why unemployment jumped. It's the up-until-now resilient self-employed who are finally feeling the pinch.
Catherine Rampell.
It might be the self-employed, said Joseph Brusuelas, director at Moody’s Economy.com. Self-employed workers are not included in payroll (establishment) numbers, and the household survey data show that this group was hit particularly hard in the last month.
There may be some hope in the darker numbers, though. From
Dave Leonhardt at Economix.
The drop in the blue line toward the right side of the chart shows the pick-up of job loss in September (to 219,000). In October, job losses fell to 190,000 — better than September but still not as good as August (154,000 job losses). Looking at these numbers, you might be tempted to conclude the recovery in the job market has stalled; things have not really improved over the last few months.
Still going to be a tough holiday season, though.
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