First I want to say how hard it is to be without a working computer for five days and counting! I am writing from my local public library (wonderful places libraries) and can't wait until our computer is fixed. Now to what I really intended to talk about, then new unemployment numbers.
So last Friday before the release of the report, I was listening to NPR (Morning Edition) and they had experts talking [3 min 39 sec] (transcript) about how it can be typical for the unemployment figure to go up as a recovery begins. Individuals who have been long unemployed may have stopped looking while things were bad, thus being uncounted by the government... and when things improve they return to the search and the survey suddenly starts counting them until they find work. OK, makes sense. Then the report came out and the rate actually dropped [50 sec] (transcript) and approximately 200,000 jobs were added. Great news right?
Well the market had other thoughts. Stocks ended the day mostly lower, but remember that the stock market is always looking at the future. In particular the future of the few (only 30 in the case of the DOW) companies on that particular exchange. In Paul La Monica's The Buzz he explains what many of the underlying problems are that are spooking investors.
What does it all really mean? Well I think that it means that despite all the dysfunction in Washington DC things are beginning to slowly improve. Good luck to all the job seekers out their (including myself.), stay active, things are looking brighter.
No comments:
Post a Comment