I know some economist hate that phrase but it looks like we are headed there. I'm graduating in six months and this situation scares the hell out of me. LINK
Don't even get me started on how the statisticians at the BLS are now spinning jobs data. The data are what the data are; the statisticians should have some self-respect and stop bowing to their political masters. I saw this latest U3 unemployment rate and was infuriated; it's the most dishonest number I've seen in quite some time. I have to actually do some work this afternoon, but I'll explain later. They wiped away 2.2MM jobs from the labor base to dress up their numbers. Our employment base number is now the lowest it's been in years and all to make the U3 number look good.
504k less people in the workforce than in December, 36k private jobs "added", and the unemployment number drops from 9.4 to 9.0. The actual workforce shrank, yet the UE rate fell as well. This basically means that many people are running out of UE benefits and are falling off of the workforce rolls.
I've been really active submitting resumes. The response has not been very good. Most people are looking for undergraduates for some reason. I haven't got an answer as to why. I have a few interviews lined up with GE, Credit Suisse and Corning
I'm a former Credit Suisse employee. Let me know via PM with which division you wish to interview. Perhaps I know someone.
