AM DATA

UNEMPLOYMENT ROSE TO 8.9% (from 8.5%)

Previous data was revised down addt'l 30,000 !

Todays number of 553,000 will be trumpeted as WONDERFUL, a SURPRISE....BETER THAN EXPECTED.......there are 75,000 GOV jobs in here some temp for "CENSUS".

Take out these temp census GOV jobs (is private sector improving?) and you get another horrible number of 628,000....add back the 30,000 that somehow SLIPPED by last report and you get 658,000.

I smell something unsavory....call me not impressed.....wages FALLING....jobs in delcine.....home values tanked, banks STIFF on lending......demand for credit plunged......but we're in recovery?

D