December Unemployment
Posted by cthodges on January 9, 2009
CEO Report 01-09-09
As the first full work week in 2009 concludes, the U.S. economy continues to deal with massive unemployment. Today’s reports show that 11 million Americans are unemployed. More than 527,000 workers lost jobs in December. Jobless claims topped 2.6 million in 2008. 1.9 million unemployment claims were filed in the past four months. The new unemployment rate of 7.2% is the highest rate in 15 years.
Many economists believe the underlying numbers are worse than reported. Workers with decreased hours hit 33% in December. That may be the last employment step before more actual layoffs. When it comes to unemployment, January has an ominous feel.
Yet, opportunities for professionals to carefully increase wealth remain. CAM has completed the first 7 days of January with a net-of-fees gain of +0.85%. The company remains ever vigilant for the right investment opportunities.
As our weekly postings indicate, Custodio Asset Management’s transparent strategy excels at reading and understanding the turbulent economic and market conditions. To discuss what services CAM can provide for you or your company, please contact us at 410-988-2511 or by e-mail at info@camtrading.com.
