job losses lower but not over

If you have been drinking the kool-aid, then you might be prone to believe that the worst of the economic woes are over. Well, not so fast. The US Department of Labor announced that the national unemployment rate for the month of June climbed to 9.5% up from 9.4%. Manufacturing, construction and retail continue the downward spiral in terms of job losses. Indeed it is true that the actual number of jobs, in those industries, is less than for the month of May but there is a good reason for this...after so many consecutive months of job losses, at some point the number of jobs available to cut declines considerably. You can't layoff or cut jobs that don't exist! Don't buy into the rhetoric. The fact of the matter is that the unemployment rate is still exceptionally high, in fact the highest seen in 26 years, and it will likely reach double digits before it bottoms out. It is, very likely, that it will be this time in 2010 before a real turnaround is visible and apparent. Mark my words! For now - its summer time and life's a beach. Miami Beach on the East and Muscle Beach on the West. What are you waiting for.