Overreaction is sure to come from this report. Anyone who thought unemployment numbers would show signs of an improving economy are foolish. Unemployment numbers are very much a lagging indicator and would only be used to confirm other indicators.
I believe we have hit the bottom and are leveling out to slightly improving. Other indicators are improving which would suggest this.
The U.S. economy, though yes in trouble, is simply to robust to fail. China won't let the U.S. economy fail anyways, they have to much invested. If anything they will slowly wean us off the free money tap while using interest payments to push there own economy ahead.
If anything comes out of this financial crisis, it will be more a lifestyle change among Americans who have simply consumed to much in the past few decades. Folks will be forced to live more modest lifestyles.
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