Unemployment Rises to 10.2%, U-6 to 17.5%!

Stock futures have sold off following a disappointing jobs report. It's probably worse than the headline given that the figures are "seasonally adjusted". This is significant because we are now in the worst period of the year for job losses. Thus, the "seasonal adjustments" will understate the problem for the next six months!

U-6 was 17.5%! The household survey will present the most accurate picture of what's really going on! Jobs in the construction and manufacturing sectors contracted "heavily"!

It is significant also that jobs were added in TEMP employment. This is an indicator that job losses will INCREASE in months ahead when those temp jobs go POOF and disappear! They're temporary, after all.