CHARTS OF THE WEEK: (Still) The Scariest Jobs Chart Ever

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chart of the day, job losses post wwii recessions, nov 2010

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  • Rare Earth Metals Are A Myth
  • Austerity Has Failed
  • Bombshell Fed Announcement Causes Shock Volatility Collapse
  • The American Industries Where Layoffs Are Still Accelerating
  • (Still) The Scariest Jobs Chart Ever

Rare Earth Metals Are A Myth

One problem facing rare earth metal bulls is the fact that China is loosening its export restrictions. Another problem: Other countries have access to them; it will just take some time to rev up new minutes.

But the fundamental problem is: the name is a lie. Rare earth metals just aren't that. They're certainly less rare than gold. Most are about as rare as lead.

So, basically, it's just a matter of extracting them from the ground, and when that starts to happen, the excitement over them will surely fade.

Austerity Has Failed

When Europe went into crisis earlier this summer, it had a few choices. One was generous transfers from the rich countries to the poorer ones.

The other choice was austerity -- budget cutting in hopes of easing debt burdens.

They tried the latter, but as the CDS market shows, that's failed.

Irish CDS hit an all-time record spread today, according to MarkIt. Portugal is right behind.

Bombshell Fed Announcement Causes Shock Volatility Collapse

The Fed's 2:15 PM ET announcement of quantitative easing 2 today had markets in raptures. Briefly.

But... surprisingly, volatility, which you would think might have surged did the opposite. It plunged.

So markets got exactly what they were expecting with the announcement.

The American Industries Where Layoffs Are Still Accelerating

Yesterday's Challenger jobs report offers a useful way of looking at the state of the US labour market beneath the major headline numbers.

The chart, put together by David Rosenberg, reveals which industries which have announced the most layoffs relative to last year? So a smaller number is better.

Obviously auto layoffs have come way down. Chemical, entertainment, and healthcare have announced relatively more.

(Still) The Scariest Jobs Chart Ever

Yes, this morning's jobs report was 'good,' but we're FAR from anything resembling a robust recovery in the labour market.

From Calculated Risk, here are all the job troughs since WWII. Note that while the recovery is very mediocre, shape-wise it's pretty similar to 2001 and also the recession in the early 90s. It's been ages since we've actually had a v-shaped jobs recovery.

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