World markets plunge despite strong US jobs data

AP on Yahoo ^ | 5/7/10 | Pan Pylas - ap

[NormsRevenge]

LONDON – A strong set of U.S. jobs data Friday failed to shore up confidence in world markets as stocks plunged again amid mounting fears that Europe's debt crisis could spread and derail the global economic recovery.

In Britain, where investors were grappling with uncertain general election results, the FTSE 100 index slid 209.98 points, or 4 percent, at 5,051.01, while the pound oscillated wildly.

Germany's DAX slid 226.05 points, or 3.8 percent, to 5,682.21 while the CAC-40 in France was 112.56 points, or 3.2 percent, lower at 3,443.55.

And on Wall Street, the Dow Jones industrial average plunged 210.09 points, or 2 percent, to 10,310.23 soon after the open while the broader Standard & Poor's 500 index tumbled 26.30 points, or 2.3 percent, to 1,101.85.

There had been hopes that Wall Street would open higher after strong U.S. jobs data helped push other concerns, primarily centered on Europe's debt crisis, aside for a while.

[avacado]

I presented those types of numbers to a lefty friend and the response was that I made those numbers up or that they are Bush propaganda. I said I got the numbers from the US Treasury’s monthly and yearly statements. It’s the actual data! They still said I made them up. They don’t want facts.

[colorado tanker]

Hey, AP, the unemployment rate went up, not down.

State run media running cover for Barry . . . .

[ZX12R]

there was NO strong US jobs data

The lame stream media is so retarded these days, that it's only apparent value is the humor enjoyed while making fun of it.

[VOA]

bump

[screaminsunshine]

I have heard every excuse in the world today on CNBC except the truth. Obama Ebonomics does not work.

[green iguana]

Any system of pegging the unemployment rate that shows unemployment going up by 0.2% when there are 275,000 jobs added

The system we use that can come to these numbers does this: (# unemployed and looking for work) divided by (# employed plus # unemployed and looking for work) = unemployment rate.

If you can add jobs and that's all that happens, the unemployment rate goes down. If you add jobs while at the same time a bunch of unemployed who weren't looking for work start looking for work, the unemployment rate can go up, which is what happened here.

And yes, it's all mishmashed gov't statistical hoo-ha. The real unemployment rate - working age people who should be working but don't have jobs (i.e., not stay-at-home moms, students, etc.) is about 17% last I checked.

[Chances Are]

Time for a beer summit yet.. I hope Merkel brings some this time... and some beer maidens too.. :-)

What?!?!? Beer Maidens? I demand pictures on this thread! (Just as a show of good faith, mind you!)

CA....

[webheart]

It gets tiring wading through the propaganda BS in almost every post.

I actually think that the comments are more interesting than the posted articles themselves. By the time any thread gets over thirty replies, someone has already said what I wanted to say. And I have had some of the best laughs of my life from reading replies on FR.

[Vendome]

 

 

Click the Pic!

 

 

 

[Vendome]

What!!!?? Football too??!!!

Wench!!!

See my response here:

http://www.freerepublic.com/focus/news/2508926/posts?page=69#69

[meadsjn]

A strong set of U.S. jobs data Friday failed to shore up confidence in world markets ...

The only ones who don't recognize the BS content are the ones spewing it out.

[Oatka]

They don’t want facts.

Indeed. I gave up on my liberal sister, whose answers to facts was always "I don't believe that!" or "Well, that's just YOUR opinion!".

[DoughtyOne]

I agree. What it must be like to be a brain dead liberal in this nation.

[DoughtyOne]

If you’re not on unemployment and regularly filling out a form that tells where you’ve applied, how the heck do they know you are trying to get a job?

[Publius6961]

Strong US jobs data?

Those are meaningless to me (at present.) I don't have enough time to read Bullshit*.

Start publishing two numbers:

New Public employees union jobs direct or indirect.
Private sector jobs.

The difference would make taxpayers' heads explode.

No, Government jobs don't count!

*BULLSHIT

[John W]

“...unemployed who weren’t looking for work start looking for work...”

How does the government determine this number?

[green iguana]

Again, it’s statistical hoo-ha. And I do believe that’s a scientific term...

They do surveys, they collect data from state unemployment programs, and other stuff. This is sampling at its ‘best’. Thank God they can’t do this for the census.

[DoughtyOne]

Yeah I agree. It just seems this process lends itself to being jobbed for political gain, especially for a Regime.

[Publius6961]

Well I must be more out of it than I thought, because this is the first time in my 59 years that I’ve heard of the unemployment referred to by the terms U3 and U6.

Don't feel bad, most of us normal people don't have the desire nor the time nor the interest to understand the details of employment statistics; any more than they are interested in the minutiae of a slaughterhouse.

Suffice to say that, there are so many different (reasonable) ways define unemployment, and the range varies so widely that numbers are available to satisfy any propagandist, right, left or center.

Here is a best web page I could find that best describes, superficially, the alphabet soup of employment statistics, and we all can laugh together when we realize that most people discussing the numbers have not the slightest clue how they have been "spun" for specific effect.

Labor Statistics

[yield 2 the right]

Next please.....