Not So Obvious Trend

Unemployment started out at an all time high of 7.6% this past January and has been menacingly heading north ever since. The latest figures of September continue to tell the predictable employment situation. In September the unemployment figures came in at 9.8% and there are no indications that this will reverse anytime soon. Since these figures are from the US Bureau of Labor Statistic, I’m confident that their numbers are accurate from a reporting standpoint. However, if you take into account the unreported unemployed or under earners not being recorded in the figures, it tells a different story.


Now, this write-up is not about the employees who gave up looking for employment or have taken a part-time job and are now off the statistical radar screen. I’m referencing to the independent contractors, consultants and small business owners who have no unemployment protection or statistical consideration. Their income is from their business performance and their customer base which continues to have less available money to spend on products and services.

The predictions are that the economic statistics will improve before the unemployed start feeling the relief of being hired back into the work force. Well, that may be how Wall Street and the banking and finance guru’s see it. However, I’ll become a believer of the economic turnaround when I hear positive indications from my business partners and clients.