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Single File Unemployment

Well I sure did not get any coffee and doughnuts for being unemployed!

According to a newly released Labor Department Survey the US has reached the lowest unemployment rate since 2009, 8.6%. Yet, where are all these new jobs? Oh yes, most are temporary, seasonal hires due to Holiday demands but then what?! I don’t believe the numbers.

I know the law market has not opened up much since 2009 and not to mention the Wall Streeters getting laid off left and right, sometimes heaps at a time (Enter MF Global, Citi, BOA, etc).

I am happy there is a hike in jobs but real long-term, sustainable growth and employment is yet to be seen. Let us wait and see what the future holds because I personally think that it is not going to be pretty.