Juan Toro

For the doomsters, there is always a picture. Here goes one from Merrill on the relationship between recession and unemployment growth. Though I agree on the gloomy picture for the US economy given credit conditions and potential effect on consumption and investment, I would not make the inference Merrill tries with the below picture. Employment data has always been tricky and volatile. I would be more comfortable with level comparisons (unemployment level/employment level) rather than a possible outlier on unemployment growth.

Posted on 9 Enero 2008 in Financial Markets

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