The market got a big boost this morning from a better than expected jobs report. Nonfarm payrolls declined by -20,000, which was far less than the -75,000 forecast. Also, the unemployment rate ticked down to 5.0%, while economists predicted it would move higher to 5.2%.Moreover, most of the job losses came in the manufacturing and construction sector, while the much larger services sector actually added 90k jobs. And the private household employment component of the report soared, after two months of losses. Hardly the stuff of recession.Yesterday I men[...]
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[Source: The Money Blogs]
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