Jump to 5% unemployment!
As Reported at MSNBC.com:
"The rise in the unemployment rate is very disturbing," John Ryding, chief U.S. economist for Bear Stearns, told clients in a note Friday morning. "January's data will be very important in informing on the state of the business cycle," he added.
Saying he was now on "recession watch," Ryding noted that the unemployment rate has now risen 6-tenths percent in the last year, a jump that hasn't happened since 1949 without a recession following.
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Well, that says a lot. Mostly, what I've been saying!
Deef Recession Probability: 200%
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