Jobs Numbers: Getting really ugly out there.
Submitted by THE O-MAN on Fri, 04/04/2008 - 13:30.
For a more in depth look take a look at the headlines on Bloomberg.com, they do a decent job giving you a brief overview and always check out John Crudele's jobs article in the NY Post.
The economy lost 80k (Street est. was 50k) jobs and unemployment rose to 5.1 percent. Factory payrolls contracted by 48k jobs (st estimate was 35k).
What really pisses me off about these numbers are the January and February revisions totaling a -67k. Both the January and February numbers were seen as "not that bad" and the market rallied. Essentially the ECONOMY ACTUALLY LOST JOBS in January and Feburary when the headline reported showed a gain.
Signed
Pissed off Bond Man
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