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The new US Jobs Report has just been released. It shows improvements from October and gives an indication that the US economy is showing more signs of life in the jobs area. Here are the highlights:
-> The smallest job loss since the recession began in December 2007
-> November Unemployment rate improved to 10% from 10.2% in October
-> Average Hourly Earnings increased by 0.1%
-> November Non Farm Payrolls fell only 11,000 vs 111,000 in November (revised)
-> September Non-Farm Payrolls revised to 139,000 from 219,000
-> Good producing jobs declined 69,000; construction declined 27,000
-> Service providing jobs INCREASED 58,000 Retail declined 15,000; Government increased 7,000 jobs
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Rank: Advanced Member
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Joined: 5/29/2009
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Great news for the US economy...the big question is whether it can be sustained. Which brings me to the question of the day:
Economists like Krugman and others are urging the government to in effect print as much money as necessary, or spend our way out of the recession. I'm no economist, but doesn't that:
1) Increase money Supply, leading to
2) Inflation, leading to
3) Depreciation of the dollar, leading to
4) Fewer buyers of US debt, and eventually
5) Downgrading of the US Debt from AAA (as Moody's is now warning of, by 2013)?
Any economists care to weigh in here and set me straight? Is $12 trillion national debt too much? Are $1+ trillion yearly current account deficits too much?
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