This will be my first introduction to the DWCM audience of Mr. Rick Santelli from CNBC. For those of you not familiar with Mr. Santelli who is often known for his colorful outburst on camera. Rick was a former trader at the CME before making his way up the corporate ladder and then eventually to CNBC.
What I find great about Rick Santelli is his straight forward candor and his efforts to lay the facts on the table. You may now always agree with his opinions but I would think that most Americans would lean towards his way of thinking especially when it comes to fiscal and monetary policy.
In this latest piece from this past Thursday, the group including Sanetlli discusses the labor participate rate and how the employment rates continues to drop without a substantial amount of jobs being created. Just to add a little color, if someone who was being counted as unemployed decides to stop looking for a job they drop of the books which artificially decreases the unemployment rate. So in theory the unemployment rate can go down without any jobs being created. The labor participation rate has been declining of the past several months which has contributed to the lower unemployment rate.
If you really want to get lost in some data here is the link to the U.S. Bureau of Labor Statistics. Look for more to come from Rick Santelli
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