The dow is only down 250 points on what could be interpreted as bad employment and factory order data. But the dow futures were down 100 points when the bailout passed, hours before economic data was released What this would imply is that unemployment data only contributed to 100 points in decline for the dow, which is not a big deal. A 6% unemployment rate isn't bad for the economy. It used to be double digits in he early 80's. Also it says: The Labor Department's report that initial claims for unemployment benefits rose by 1,000 last week to a seasonally adjusted 497,000 unnerved investors worried about not only about strains in the financial market but also the effect on the broader economy. LOL 1000 claims is peanuts given that the US has 300 million people. Even 500,000 is just a fraction of a percent of the US population or total labor force. Hardly a big deal.
Slick Willy changed how unemployment numbers are calculated. You cannot get an accurate number from the new system. Your best bet is to double whatever the sysyem says. We are now at 12% unemployment. Research.
Well, if the Friday numbers aren't terrible, it's a totally fabricated number. For what it's worth 600 teachers were laid off in Dallas today. That is something that you wouldn't think would happen, but it did. 600 teachers, whacked from DISD in one fell swoop. Everyone's getting axed, besides the obvious stressed industries.
unemployment is not a big deal, DHS can hire more useless morons as TSA officers, that way the jobless numbers will drop