The job report just released on Friday has had a negative effect on many stocks in the US. The governments job report has fallen well short of expectations, with the Dow Jones and Nasdaq futures dropping sharply as a result.
The job report says that employers added 431,000 jobs in May 2010. Also, employment dropped by 0.2% from 9.9% to 9.7%. Lower unemployment figures are a clear sign that the economy is on its way to recovery.
President Obama warns that there are more “ups and downs” on the road to come, however.
Experts correctly say that month-to-month and long-term data should be studied, rather than looking too much into just one report. Hopefully things can improve by next month.
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