Leading Economic Indicator Supports Recent Rally

Add this to the list of green shoots. With unemployment flirting with 10%, the degree of lying about academic credentials on resumes has remained in line with prior years according to an executive search firm run by Jude Werra that produces a Liars Index twice a year. According to the index, approximately 16% of job seekers gave themselves an academic upgrade during the first half of 2009 which is right in line with the four year average of 15.8%. The 4th of July appears to be the inflection point for telling the truth as the level of academic fiction drops to 11.8% in the second half of the year.

"The important issue here is less about an apparent pattern of seasonal volatility and more about our warning employers that about one in every seven résumés they receive is likely to have misrepresented academic credentials, whether falsified majors, graduation dates or outright invented degrees," Werra said in a statement.

Only time will tell if somebody tries to explain this away as 'Intensive Summer Coursework in Financial Markets'.