Posted on 06/04/2010 8:48:19 AM PDT by Mad Dawgg
NEW YORK – Investors went back to selling stocks sharply lower Friday after the Labor Department's disappointing news that hiring remains weak. Interest rates fell sharply as investors moved their money into the safety of Treasury bonds and notes.
The Dow Jones industrial average dropped almost 190 points, while all the major indexes were down more than 1 percent.
The government's May jobs report was an unpleasant surprise for the market. The Labor Department said private employers hired just 41,000 jobs in May, down dramatically from 218,000 in April and the lowest number since January. The news made it clear that the economic recovery isn't picking up the momentum that investors have been looking for.
The government also said 431,000 jobs overall were created last month, but most of those jobs, 411,000, came from the government's hiring of temporary census workers. The overall number also fell short of expectations. Economists polled by Thomson Reuters had forecast employers would add 513,000 jobs.
(Excerpt) Read more at news.yahoo.com ...
Europe is tanking, and oil and gold are down as well... why?
Has anybody started a pool, yet, on how big the “last hour” selloff is gonna be??
Put me down for -300 in the last hour of trading...
Let me be the first: Unexpected?
An old investor Friend of Dad (80 years old) claims its people putting their money in the Bank of Sealy Posturepedic...
This can’t be! Our spinster-in-chief said this morning the economy is getting stronger everyday.
“An old investor Friend of Dad (80 years old) claims its people putting their money in the Bank of Sealy Posturepedic...”
I should have thought of that, after all, that is what I am doing! Didn’t connect the dots.
This can't be stated enough.
"We expect to see strong jobs growth in Friday's report. This economy is getting stronger by the day."
Barack Hussein Obama
Wednesday, June 2, 2010
Speech giving at Carnegie-Mellon University in Pittsburgh
WAIT ON DAMN MINUTE!!!! Barry Barak Sotero Obama Hussein just assured me that these numbers show what an amazing recovery we are in the midst of. Can someone send the memo to Wall Street that his Sotero Hussein Obama Barakness hath spoken.
President Barack Obama says the addition of 431,000 new jobs in May shows “the economy is getting stronger by the day.”
Speaking at a trucking company outside Washington, Obama embraced the Labor Department’s new employment snapshot, released Friday morning. A burst of census hiring lifted payrolls last month, and the unemployment rate dipped to 9.7 percent.
Rose colored glasses....
How stupid do these DC thugs think we are?
Unexpected....Of course?
” How stupid do these DC thugs think we are? “
I refer you to the result of the 2008 Federal Election...
Barack Hussein Obama
Wednesday, June 2, 2010
Speech giving at Carnegie-Mellon University in Pittsburgh
I've had bowel movements that have more economic knowledge than Barry Hussein Obama has...
How stupid do these DC thugs think we are?
The don’t give a rats ass if we believe them or not!....Chicago style politics doncha know?
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