not looking too hot... Consensus figures are calling for payrolls to fall by 100,000 jobs, and the nation's unemployment rate to edge higher to 9.8% from 9.7%. . This after ADP reported a mere 13,000 jobs added in the private sector. The service sector added 30,000 jobs and manufacturing gained 16,000, but the goods-producing realm lost 17,000 jobs in June and construction also lost 35,000 jobs this month (though the report said the backslide is the smallest since July 2008). Gee and I thought things were bottoming out! (oh wait it'll come in like at 30K lost "beating consensus")
You may be right since every where you look the expectations for this report seems to be very negative. That being said if it is a low volume day the swings could be insane. Interesting to see what happens with the currency markets also after today
The truth is nobody cares about tommorrows #. The reality is a depression is now on our door step and nobody can stop it. So let the black boxes screw around and spike the mkt but over the next year the mkts a goner.
the construction jobs are lost in the middle of the summer. :eek: what happens in the fall/winter? looks quite bad. "The Associated General Contractors (AGC) of America reported yesterday, June 30, that construction employment is continuing to suffer drastic declines in 294 out of 337 major metropolitan areas due to weak private, state and local construction demand and lack of long-term projects caused by delayed federal infrastructure bills."
Don't worry. Congress is going to take care of everyone. This is what Nancy Pelosi recently said about handing out unemployment checks: "It creates jobs faster than almost any other initiative you can name." With morons like her running government who needs national enemies? http://www.breitbart.tv/pelosi-unemployment-checks-fastest-way-to-create-jobs/
Really. Can you imagine a KGB meeting? "Stand back Comrades. They destroy themselves better than we." I saw that quote, and just shrugged. Hard to believe you can be that stupid and stand upright.