Economists Off The Mark A Little With Jobs Forecast

I fully thought that we would see a weak payroll report today, at least weaker than the 100k jobs forecast. But I didn’t think we would actually see job losses. But that is what happened. The economy lost -4000 jobs last month, with notable weakness in the housing and construction industry. This marked the first negative reading in 4 years, since August 2003.That caused some weakness at the open of our markets, but the silver lining is that it takes much of the doubt away about whether or not the Fed will cut rates. They will cut rates. Th[...]

Read More...

[Source: The Money Blogs]