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Google data points to no improvement in employment?

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June 30, 2009 – Comments (2) | RELATED TICKERS: SPY , GOOGL , SRS

So I wrote a big long followup to yesterday's post about using Google Insight data as an economic indicator, but CAPS decided to eat it. Reminds me why I stopped blogging here in the first place.

Here's the data again, but you'll have to draw your own conclusions. I'm not typing it all out again:

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2 Comments – Post Your Own

#1) On June 30, 2009 at 4:53 PM, soycapital (< 20) wrote:

Wow! I don't like the way that looks. It reminds me of jumping off a cliff on a canoe trip.

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#2) On June 30, 2009 at 5:33 PM, gunark (85.08) wrote:

I wouldn't worry too much about that seemingly huge drop at the end. This is data for the current week, ending Jul 4, and obviously this is not yet done so the number will likely move higher once the next three days data is added.

 

On an unrelated note, here's a normalized comparison of the same period over the last 5 years. I wanted to see what the seasonal pattern looks like. The "bump" in June is there in previous years, but may be bigger than average this time around, possibly indicating a worse-than-expected rise in unemployment for this June:

  

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