Are we going to rally into US NFP numbers or will risk aversion prevail ?

Discussion in 'Economics' started by ASusilovic, May 24, 2010.

  1. May 21 (Bloomberg) -- Payrolls increased in 38 states in April, led by Ohio, Pennsylvania and New York, indicating the recovery in the labor market is becoming more broad-based.

    Employers in Ohio boosted staff by 37,300 workers last month, the biggest jump in 22 years, the Labor Department said today in Washington. Those in Pennsylvania added 34,000 workers, and employment in New York climbed by 32,700.

    The number of states showing payroll gains increased from 33 in March. Nationally, the U.S. has added jobs five of the past six months and payrolls increased by the most in four years in April, according to Labor Department data released May 7.

    “It’s nice to see that job gains are not only well- distributed as far as industries are concerned, but also geographically,” said Joel Naroff, president of Naroff Economic Advisors Inc. in Holland, Pennsylvania. “That may be the clearest sign that we’re going to see a recovery in the labor markets.”

    Stocks rebounded following the biggest drop in a year yesterday as investors speculated equities fell too much this week on concern about Europe’s debt crisis. The Standard and Poor’s 500 Index climbed 1.5 percent to close at 1,087.69.