The next batch of monthly unemployment numbers roll out on Friday. Trend estimates are at around 650,000 additional job losses for February. I would not be surprised to see a number in excess of 700,000 lost jobs. And, I would not be surprised to see an 8% unemployment rate.
If these expectations/predictions prove accurate, we will have seen a total of 3 million jobs lost since "the day the world changed" when Lehman Brothers went bankrupt in mid September and the whole Bail-out chain of events began in the fall.
Interestingly, we may see a very sharp rally in the stock markets on the news, unless job losses are even greater (800,000 losses or more). We shall see, buckle up...
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