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U.S. Petroleum Usage, New Home Sales, Jobs, Consumer Credit and the Alleged Recovery

• GlobalEconomicAnalysis.blogspot.com
 
According to the BLS, non-farm employment is lower than it was 11 years ago! The BLS says the unemployment rate dropped the past year. I find that questionable given that it takes roughly 125,000 new jobs a month on average just to hold the unemployment rate steady. Gallup, also pegs the unemployment rate much higher. Please see Gallup Poll Pegs Unemployment Rate at 10.2%, Underemployment at 19.9%, Same as Last Year for details. Petroleum usage together with housing, jobs, and consumer credit paints a much different picture about the "recovery" than cheerleaders would have you believe.

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