Unemployment Rises to 7.9%

Discussion in 'Politics' started by Arnie, Nov 2, 2012.

  1. Arnie


    STILL higher than when Obama took office.

    Avg hourly earnings decline

    23 million STILL looking for work

    Obama policies STILL failing

    Obama STILL won't run on his record of failure over the past FOUR YEARS.

    STILL four more days of this BS.

  2. Ricter


    Yes, the labor force grew. Have a look at consumer confidence.
  3. and look at futures SPIKE higher.:).
  4. Tsing Tao

    Tsing Tao

    Yeah! Look at those futures.
  5. Arnie


    +10 LOL

    Man, you can't fix stupid. You go Spike!!

    :D :D
  6. pspr


    Just barely treading water. 171,000 new jobs and 170,000 new workers.

    If you are looking for a job, welcome to the McDonalds work force.
  7. Ricter


    U.S. Stock Futures Rise After October Payrolls Top Views
    November 2, 2012, 8:55 a.m. ET


    --Stock futures rise after monthly jobs data

    --Europe nudges higher as euro zone PMI revised up slightly; Asia rallies

    --October nonfarm payrolls climb 171,000, topping 125,000 forecast; Unemployment rate matches forecasts

    By Matt Jarzemsky and Tomi Kilgore

    NEW YORK--U.S. stock futures rose, suggesting the market might extend Thursday's rally, after the government's much-anticipated monthly jobs report showed a bigger-than-expected increase in October payrolls.

    Less than an hour before the opening bell, Dow Jones Industrial Average added 32 points, or 0.2%, to 13197. The Dow rallied 136 points, or 1%, on Thursday to post the biggest one-day gain in seven weeks.

    Standard & Poor's 500-stock index futures rose six points, or 0.4%, to 1429 Friday morning. The index futures had swung between gains and losses earlier but rallied after the labor-market data were released. Nasdaq 100 futures increased four points, or 0.2%, to 2689.

    Changes in stock futures don't always accurately predict stock moves after the opening bell.

    U.S. job growth accelerated in October, though the unemployment rate ticked higher. Nonfarm payrolls rose by 171,000 last month. That topped the 125,000 median forecast of economists polled by Dow Jones Newswires. The politically important unemployment rate, obtained by a separate survey of U.S. households, rose one-tenth of a percentage point to 7.9%, matching economists' forecasts.

    At 10 a.m. ET, factory orders for September are seen increasing 4.9% on the month, after falling 5.2% in August.

    In earnings news, shares of Starbucks climbed 7.8% in premarket trading after reporting fiscal fourth-quarter earnings that beat expectations, boosted by strong customer traffic growth in the Americas, and nudged up its fiscal 2013 earnings outlook.

    Priceline.com rose 11% after the online travel booking service reported third-quarter earnings and revenue that topped analyst forecasts, citing better-than-expected growth in the European market.

    European markets nudged slightly higher, with the Stoxx Europe 600 up 0.2%, after the final reading of Markit's October purchasing managers' index for the euro zone was revised up slightly to 45.4 from a previous reading of 45.3. Still, that marked the 15th-consecutive month of contraction in manufacturing activity for the region.

    Asian markets were broadly higher on the back of strong gains in the U.S., resulting from encouraging economic data. Japan's Nikkei Stock Average rallied 1.2% and China's Shanghai Composite rose 0.6% to post a fourth-straight gain.

    Crude-oil futures lost 0.4% to $86.71 a barrel, while gold futures gave up 1.1% to $1,696.80 an ounce. The dollar gained against both the euro and the yen.

    In other corporate news, LinkedIn rallied 8% after the company reported third-quarter earnings and revenue that were well above analyst expectations and raised its full-year revenue outlook.

    American International Group lost 2.7% after the insurer reported better-than-expected third-quarter earnings and revenue, but also said it was still too early to provide an estimate of the financial impact of Sandy. The stock was up 52% so far this year ahead of the release.

    Guess dropped 9.2% after the apparel maker said two senior executives, its chief financial officer and chief operating officer, had resigned to pursue other interests.

    TripAdvisor ran up 19% after the hotel-reviews site's third-quarter earnings and revenue were above forecasts, helped by accelerating growth in click-based advertising revenue.

    Active Network tumbled 31% after the company reported a wider-than-expected third-quarter loss and said it expected to continue to incur losses in the current quarter and in 2013.
  8. Yeah... and right now the Dow's down 140.