As I said before you can't get too excited about one month of data. Still there are some other ominous signs. Contrary to common misperception, the BLS does actually derive a variety of measures of unemployment. The "standard one," and the one the press pays attention to, is U-3, but there are others. The broadest measure, U-6, has been slowly inching up throughout the year, and jumped along with the U-3 jump this month. Weekly new jobless claims rose in recent months, and continuing claims are also going up.
Not enough to quite call a trend, though if the unemployment rate creeps up next month or if there's another bad jobs number I'd say it's time.
