Posted on 05/02/2008 5:56:35 AM PDT by kellynla
NEW YORK (CNNMoney.com) -- Stocks futures pointed to a very positive open early Friday, after a government report painted an unexpected upbeat picture of the labor market.
With less than an hour before the market open, S&P and Nasdaq futures were both in positive territory, with a comparison to fair value pointing to a slightly lower start for Wall Street.
According to the Labor Department, there was a net loss of 20,000 jobs in April, less than the revised loss of 81,000 jobs in the March and lower than the net loss of 75,000 jobs forecast by economists surveyed by Briefing.com.
As a result, the unemployment rate dropped to 5% from 5.1% in the March report.
(Excerpt) Read more at money.cnn.com ...
It has been a good time to be in the markets during the last month. As long as news stays decent, we will have a nice bull run.
Eurozone unemployment rate remains at record low 7.2 pct
31 January 2008, 17:54 CET
And the dollar shrinks while the Euro grows?
I can just see the big frown on Harry Reid’s face when he reads the morning paper today...
Yea, well the “geniuses” at the Fed keep cutting the interest rates and printing more money...what do you expect?
It ain't rocket science, they just need to leave the interest rate alone and quit flooding the market with more cash...it wouldn't hurt either if the clowns in Congress would...gasp!...balance a budget, pay down the national debt & quit spending money we don't have.
Man, this is the crappiest recession ever.
Translation, the number was "cooked" a bit as was the previous month's which was revised. Those more unfavorable revisions are buried in this month's report.
I reeeeeeeeely don’t put much credibility into these numbers...
for one thing, we have absolutely no idea how many illegals are in this country working and taking away jobs that would otherwise be held by American citizens...
and they no sooner release unemployment numbers then they come out with a “revised” number later...
and while the private industry is laying off people;
the government continues to hire...who says Communism is dead! LOL
World’s Most Anticipated Recession Fails to Materialize as Yet
Not just Reid, I can picture the frowns on many Doomist Freepers who are aghast that things are improving. Already I'm reading the admonitions: "just you wait, things are going to get worse." They're as much chagrined as Harry Reid.
During the same time period the government added 76,000 more bodies.
The big problem with our bloated federal bureaucracy is that it can be compared to a long freight train. They keep adding cars for us to pull.
“During the same time period the government added 76,000 more bodies.”
And of course, as everyone knows, it is practically impossilble to lose a job working for the government.
Who says Communism is dead!
“During the same time period the government added 76,000 more bodies”
I wonder how many of these bodies are military?
We are letting illegal aliens in this country to keep wages down. Although they continue to use our health care, schools, and welfare for their anchor babies at tax payer expense we do nothing. Then these people (yeah that's right I said these people) send the money they make back to their countries.
Now compound that with jobs going overseas (because the cost of labor) and the free trade. Our dollar is no longer based on the gold standard. Furhtermore, our corrupt morally bankrupt government keeps printing dollars while it runs record deficits.
They tell us innovation will keep us going. However, how can it happen when all jobs keep going over seas. Not just jobs getting phased out.
Our great nation is in trouble. I am sorry but its going to take more than a single a report about the unemployment rate to make me think we are heading in the right direction,
You know why I think this happened? THIS got out..........
Only an incredible simpleton could look at the dates and not see that ONLY after dims got congress back the economy took a downturn...............
CHANGE???? DIMS DELIVERED!!!!!!!!
This is a good reminder of just how the Demograft Party delivers on the promises of their candidates!
A little over one year ago:
1) Consumer confidence stood at a 2 1/2 year high;
2) Regular gasoline sold for $2.19 a gallon; (Hillary, and the Dem’s were going to “fix” this, remember?)
3) the unemployment rate was 4.5%.
Since voting in a Democratic Congress in 2006 we have seen:
1) Consumer confidence plummet;
2) the cost of regular gasoline soar to over $3.50 a gallon;
3) Unemployment is up to 5% (a 10% increase);
4) American households have seen $2.3 trillion in equity value evaporate (stock and mutual fund losses);
5) Americans have seen their home equity drop by $1.2 trillion dollars;
6) 1% of American homes are in foreclosure.
7) The value of the U.S. dollar has plummeted.
oil price, doubled.
9)job expansion? OVER, and now going backward.
10)Groceries up 70 dollars on average per month.
America voted for change in 2006, and we got it!
to be fair...the Gelding Old Party isn’t much better...
in fact, the GOP had the majority of both houses for four years AND the WH and what did they accomplish?
more spending, more government and absolutely nothing to get us off our dependence on foreign oil.
and that is why the GOP lost the majority of both houses after only four years!
And the dollar shrinks while the Euro grows?
Actual Eurozone unemployment is north of 10%. The Euro is falling against the dollar and will continue to do so.
Despite a truly anti-Herculean effort (as in filling the Augean stables) by the dims and lamestream media, the United States economy remains the greatest ever in history. Less than 4% of the world's population, using about 20% of the world's annual energy consumption, produce almost 30% of the world's goods and services.
Few people properly comprehend the scale and efficiency of the U.S. economy. Although the business cycle will never repealed, the knowledge and controls available to today's management to monitor supply, demand, costs, trends, labor, etc. are without parallel.
While it is still very much possible for a company, group of companies, or even an entire sector to get it wrong; even very wrong if they let emotion trump reason; the rest of the economy will figure it out very quickly and adjust accordingly.
As a result, much of business is focused on the twin Achilles Heels of our nation, demography and education.
It is an axiom of business that if you are not growing, you are dying. The replacement birthrate is too low among United States citizens. Our dismal public school system compounds the problem because a high school diploma has become as meaningless as a certificate of attendance and many college diplomas (particularly BA degrees) are not much better.
Still, while it is possible to make and win a short term bet against the U.S. economy, only a fool would bet against it in the long run.
You really should read a book on economics. Free Trade, real free trade, LOWERS prices. Taking advantage of cheap labor overseas, LOWERS prices. You cannot artificially peg a currency to the “price of gold”, the price of gold fluctuates in other currencies too. You would have to have gold to back all of our dollars. It is a physical impossibility, buying and hording so much gold would, if possible, bankrupt the economy and destroy the free market in gold.
Just look at any small town that has few jobs and low prices. Do you really believe that town is booming?
I am for free trade as long as its fair. There is no way our people can compete with someone at 5 cents an hour. If lower wages are so good, then why don't they just get slaves. That way it will not cost them anything.
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