In a recent Profit Confidential article, lead contributor and financial expert Michael Lombardi reports that in September, the official unemployment rate in the U.S. economy was 7.8%, below the eight percent mark for the first time during Barack Obama’s presidency. However, he notes that the unemployment rate increased to 7.9% in October. (Source: Bureau of Labor, October 2, 2012.) According to Lombardi, these numbers suggest that America’s massive problems with unemployment will negatively affect the U.S. economic outlook in 2013.
New York, NY (PRWEB) November 11, 2012
In a recent Profit Confidential article, lead contributor and financial expert Michael Lombardi reports that in September, the official unemployment rate in the U.S. economy was 7.8%, below the eight percent mark for the first time during Barack Obama’s presidency. However, he notes that the unemployment rate increased to 7.9% in October. (Source: Bureau of Labor, October 2, 2012.) According to Lombardi, these numbers suggest that America’s massive problems with unemployment will negatively affect the U.S. economic outlook in 2013.
As Lombardi notes, the underemployment rate is a more accurate measure of the jobs market, as it includes people who have given up looking up for work and people who have part-time jobs but want full-time jobs. He points out that considering the underemployment rate, rather than the official unemployment rate, creates negative pressure for the U.S. economic outlook in 2013.
“According to the Bureau, the underemployment rate in the U.S. economy was 14.6% in October, a minute decrease from last month,” reports Lombardi.
In the article “The Truth Behind Today’s U.S. Jobs Numbers Report,” Lombardi notes that so far in 2012, in the U.S. economy, the employment growth has averaged 157,000 jobs per month, but the U.S. economy needs to create 150,000 jobs a month just to keep up with the number of new people entering the work force.
In normal circumstances, after a recession, Lombardi states that the U.S. economy would be producing 250,000 to 300,000 jobs a month—a number he thinks will likely never be hit in 2013.
“The employment picture in the U.S. economy is not improving,” concludes Lombardi. He believes that the U.S. economic outlook in 2013 is not looking good.
Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market…before it plunged.
Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.
To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.
Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.
Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/11/prweb10114376.htm
This article (Top Financial Newsletter Profit Confidential Reports: Recent Jobs Numbers Show Weak U.S. Economic Outlook in 2013) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.