41st Worst Monthly Jobs Report On Record...Yes 41st

This morning's employment report showed that during the month of November the US economy lost 533K jobs which was the sixth largest monthly decline on record. However, just as a move of 100 points in the Dow was a much bigger move when the Dow was at 1,000 than it is now that we are at 8,000, a decline of 500K jobs when the workforce consists of 140 million workers is not nearly as significant as a decline of 500K jobs when the workforce consists of 40 million workers as it did in 1945. Today's jobs report was certainly nothing to get excited about, but it also wasn't the Armageddon scenario that some are making it out to be.