Posted on 07/01/2009 6:52:31 AM PDT by Oldeconomybuyer
PRINCETON, NJ -- The Gallup Index of Investor Optimism -- a broad measure of investor perceptions -- tumbled 20 points to -21 in June, giving up May's gain and essentially returning to where it was in April.
The sharp decline in Gallup's Index of Investor Optimism in June -- particularly the plunge in expectations for the economy -- suggests that investors may be losing some of their hopes for an immediate improvement in the U.S. economy later this year. This is consistent with the leveling off of consumers' mood over the past few weeks and the drop in the consumer sentiment index on Tuesday.
Gallup's job-market and consumer spending measures suggest that the reality on Main Street has not improved substantially over the past couple of months. Perhaps the average investor and the American consumer see the fragile nature of the current U.S. economy more clearly than do those on Wall Street.
(Excerpt) Read more at gallup.com ...
Just look at this crap from shills in the so-called business news reporting. They had to preface the “good news” with 2 sentences before getting to the “however” only 473,000 more folks lost their jobs last month and offically acknowledged unemployment is now at 9.6%.
Market is already up 88 points this morning. PT Barnum was a genius.
http://www.thestreet.com/_yahoo/story/10531979/1/stocks-poised-for-higher-open-on-jobs-data.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
“The new quarter kicked off with a new round of economic data. ADP estimated that there were 473,000 jobs lost in the private sector in June, far more than expectations for 394,000. However, job losses were down from a downwardly revised 485,000 in May and also marked the least number of estimated jobs lost sense October 2008. ADP’s report comes ahead of the government’s unemployment data — which is expected to show unemployment rose to 9.6% — on Thursday...”
Hope n change.
Hope n change.
‘unemployment is now at 9.6%’
real unemployment is around 15% and rising rapidly
We only count those who have given up looking for work in Republican administrations.
Seriously, it's even worse, since many of the people still working have had to take pay cuts and reduced hours.
The real measure of the economy, the gross domestic product, declined 5.5 percent in the 1st quarter 2009 and the 2nd quarter is likely to be quite negative again.
That is a certainty, I have been out of work for 7 months. I am on extended benefits and I think they only count people who are on tier 1 are the only ones counted as unemployed.
Talked to a friend, runs a large,private hedge fund out of Palm Beach. He’s short on everything( more or less ) for the next five years. Government/political capture of the US economy is so strong and wrong, and yet everything may be again turned around that Bush/Congress/Obama by SCOTUS. Or not.
He thinks the worst is yet to come. But for him, they are preparing to buy fundamental companies driven to their knees, or lower.
Most job loss occurs in the private sector. Government is hiring. So that 10% isn’t over the private and government employment, it’s in the private, which effectively makes the dreaded private/free market/tax producing unemployment rate at one out of five workers, or 20%.
I suspect that 9.6 unemployment number is not correct. Its higher.
Here in Cleveland, many of the Suburbs have had to lay off city workers, most of the suburbs have deficits, almost all of them owe millions of $ to the City of Cleveland due to EPA required updates to the water system.
If the Governor gets his way 50% of all the libraries state support will be cut. This will lead to many lay offs. They can not raise taxes as they are too high already. Most municipalities are trying to figure out what to do to balance their budgets.
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