Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Jobs data ...and this is supposed to be good news...haha!!

Reply
divz
Super Contributor
345,000 U.S. Jobs Lost in May; Unemployment Rate Jumps to 9.4% The economy shed 345,000 jobs in May, a sharp reduction in the pace of job losses, the government reported on Friday in its monthly employment report. The unemployment rate climbed to 9.4 percent, its highest point in a quarter-century, and economists said the job losses were likely to pile up through the rest of the year. But the letup in the pace of losses fanned hopes that the plummeting job market was showing sustained signs of stabilizing.
0 Kudos
12 REPLIES 12
divz
Super Contributor
watch the dow rally...these yanks aren't well
0 Kudos
gamma_spike
Frequent Contributor
bullion tanked.... American long bond falling through the floor. Inflation looks like an amazing buy
0 Kudos
SimonPB
Valued Contributor
foget the absolute .. worry about the relative ..
0 Kudos
Mol
Frequent Contributor
0 Kudos
Not applicable
What part of "reduction in pace of job losses" don't you guys understand? How, in your wildest dreams, could the news possibly have been better?
0 Kudos
Ameesh
Contributor
Looks like this makes it a gap close possibility...
0 Kudos
Surf_Rat
Super Contributor
0 Kudos
richardw
Super Contributor
Well, the reduction in initial claims is a huge improvement, but the continuing claims could have been better, and the month before was revised quite a lot. So what could freak the market out is the proximity to 10%. We just did 8.9 to 9.4, so .5 change in one month. Another month like that and we're at 10%, which wasn't predicted until late this year or next year sometime.
0 Kudos
gamma_spike
Frequent Contributor
well well well. Bit of a whip saw- but this dollar is a stunning sell here
0 Kudos
divz
Super Contributor
currently in this market anything thats bad is good because its a better bad than last time its when the bad becomes bad again and the good becomes good that we end up with ..........tataaaa the good the bad and the ugly oh my goodness that was bad must be bored as hell cheers have a good weekend.
0 Kudos
Not applicable
Timato, yes the reduction could be seen as good in one way, less new people applying for jobless support....but look at the real picture. 325,000 NEW jobs lost!!! Now add that to the already exisiting and continuing 630,000 odd jobless claims & you have added 50% to the original lost jobs claims. Now where is the good news in that? Surely the yanks are going to start seeing through the 'better bad news' and smell the rot starting to be accepted as 'normal', when the news is less bad than last time does not make it good news. IMO the american public is being setup to accept that bad news is acceptable and the normal daily thing to expect.
0 Kudos
richardw
Super Contributor
Seems another reason for increasing unemployment was the amount of people entering the job market. They didn't lose their job, just never looked for one before. Now that they are, they're "unemployed"! It makes up a tiny bit for all the people who have given up looking and aren't counted anymore.

Ok, weekend. Cheers all.
0 Kudos