job loses destroy expectations. Unemployment rate 8.4 vs. 8.2 expected. This is the signs of a recovering world economy. Not!
There will be plenty of green shoots in todays job report, even a minus 450,000 job loss would be the biggest green shoot yet. Dow 10000 by end of June. Buy all dips, risk free money.
Q: How are the job loss numbers "better" then expected yet the unemployment rate is "worse" then expected? 345,00 vs 520,000 and 9.4 vs 9.2 A: Green Shoots
Our biggest concern right now in Canada is the rising value of the CAD vs. USD. Exporters are losing out big time, which is why you see the sharp drop in the manufacturing sector (especially in Ontario). Many economists predict parity again by the end of 2009. Bad for exporters, good for my travel plans and cross border shopping raids.