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However, the jobless rate fell to 8.1 percent, from 8.3 percent in July, an indication that more unemployed workers were discouraged about the propsects of finding new jobs. Republicans have made persistently high unemployment a centerpiece of their argument for denying President Obama a second term, and the new figures give the White House little to boast about. The private sector created a total of 103,000 jobs in August, while the number of government jobs fell by 7,000. In July, total non-farm payrolls grew by 141,000, revised from an earlier estimate of 163,000; the number of jobs at the local, state and federal level fell by 21,000 that month.
Because investors think it will lead to another round of (IMO, a bad idea) QE.
Yep, mot likely next week. Throw in ECB working with soverign bonds in Europe, there will be a lot more money in the system. There is a high chance of the stock market being at a multi-year high when November hits now.
HAHAHAHAHA....it's going in the right direction when there aren't enough jobs to account for population growth? More and more people without jobs and we're going in the right direction?!?!?!? Obama lovers set the bar so low it's hilarious.
Thanks for posting the link though. I was about to post one myself (there aren't really any articles available first thing after it's released...you can't get much more than headlines with the numbers themselves for a while). Also thanks to Edward for posting a link.
Last edited by afoigrokerkok; 09-07-2012 at 07:04 AM..
And the stock market will most likely be higher today. Cookie to the first person to point out why!
Easy one labor is the biggest cost to companies. Less cost same revenue more profit, shareholders are happy. It's also a good inflation play if done correctly.
I've always said the stock market doing well doesn't mean much, the year Zimbabwe had runaway inflation it had one of the best stock performances in the world. The bond market is a better guage of macroeconomic health IMHO.
Who wants to bet that by the end of October, the UE rate WILL be under 8%......
Any takers?
If it is, it will be ONLY because of holiday hiring.
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