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i think you can sleep soundly with numbers like these:
The unemployment rate continued to trend upward in February for adult
men (8.1 percent), adult women (6.7 percent), whites (7.3 percent), blacks
(13.4 percent), and Hispanics (10.9 percent). The jobless rate for teen-
agers was little changed at 21.6 percent. The unemployment rate for Asians
was 6.9 percent in February, not seasonally adjusted.
The number of long-term unemployed (those jobless for 27 weeks or more)
increased by 270,000 to 2.9 million in February.
Yup, and the unemployment rate will likely continue to remain very high for quite a while yet - BUT, the unemployment numbers are only 1 of a number of economic indicators, and it's usually one of the last ones to show bad news when the economy is on the way down - and (more to the point) one of the very last ones to show economic recovery when the economy is on the way back up. This is because companies tend to be cautious about hiring full time folks - wanting to make sure the recovery is sound, so yeah, the unemployment rate is likely to remain high for quite some time yet - but there are several other indicators that are hinting that the bottom may have been reached regarding the overall economy.
Well, can't say how the day will end up, but at the moment the DOW is up nearly 400 points.
This is on top of the large gains from the last 2 weeks.
More and more it's looking like things may be starting to turn around.
I guess I spoke too soon.
It didn't end up nearly 400 points - it ended up just shy of 500 points up.
I DO expect some profit taking tomorrow, but no matter how you slice it, a nearly 500 point gain - expecially on top of the 800 or so points it gained in the last 2 weeks - is pretty darned nice.
We still have a ways to go, but at least the trend is in the right direction (at last).
This from the chron.com (a reader comment) in regards to who Republicans will give credit to....
"nope. the limbaugh hannity beck cavuto supporters will CERTAINLY give all credit for ANY recovery to bush & paulson, trickle down economic theory, and of course, ronald reagan.
***
BTW, have you ever heard anyone call themselves a, "bush republican?"
I guess I spoke too soon.
It didn't end up nearly 400 points - it ended up just shy of 500 points up.
I DO expect some profit taking tomorrow, but no matter how you slice it, a nearly 500 point gain - expecially on top of the 800 or so points it gained in the last 2 weeks - is pretty darned nice.
We still have a ways to go, but at least the trend is in the right direction (at last).
Ken
Y'know, this is just terrible! It takes the wind out of the Obama-haters sails!
I guess I spoke too soon.
It didn't end up nearly 400 points - it ended up just shy of 500 points up.
I DO expect some profit taking tomorrow, but no matter how you slice it, a nearly 500 point gain - expecially on top of the 800 or so points it gained in the last 2 weeks - is pretty darned nice.
We still have a ways to go, but at least the trend is in the right direction (at last).
Ken
Dropped 100+ points today.....
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