Earn, save and protect your money

Posts Tagged ‘u.s. unemployment rate’

Unemployment Rate Falls to 10%

Friday, December 4th, 2009

Economists expected last month’s non-farm payroll declines to be in the range of 125,000. However, non-farm payrolls fell just by 11,000. U.S. unemployment rate declined from 10.2% to 10%. Employment fell in construction, manufacturing and information, while temporary help services and health care added jobs.

Job market is in recovery mode. The good news is that it is still in recovery mode. It’s not getting any worse. Antulio Bomfim, a former Fed economist, said “We expect the jobless rate to start falling very gradually in the first half of 2010”.¬† Carl Riccadonna, senior U.S. economist at Deutsche Bank, said¬† “We’ve still got a long way to go, but the good news in this report provides important positive momentum.” Positive momentum… that’s what we need now! This report is cheering up the market today. This enthusiasm may last for a while until another Dubai screws up with their finances.

Related Link: Wall Street Journal

U.S. unemployment rate rose to 10.2%

Friday, November 6th, 2009

It seems that choppy trading will continue for few more weeks. Yesterday, Dow went up by 203 points after positive report from Cisco. In an earnings conference call on Wednesday, Cisco CEO John Chambers said a recovery “is well underway” and added that economic improvements were “gaining momentum” world-wide. He predicted Cisco’s year-over-year revenue would grow in the current quarter after a year of declines.

Today, Labor department said that U.S. unemployment rose by more than expected in October to hit its highest level in more than 26 years and employers cut more jobs than forecast. The unemployment rate, calculated using a survey of households as opposed to companies, rose by 0.4 percentage point to 10.2%. Economists’ expectation was 9.9%. Dow is down by 61 points few minutes after the market open. Traders are going to take profits they made yesterday just to make sure they don’t hold any positions over the weekend. As always, trade wisely!

Related Posts Plugin for WordPress, Blogger...