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Unemployment up in May, markets down
Topic Started: June 1, 2012, 8:22 am (672 Views)
Blessedx4
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I could've predicted these headlines when in recent weeks I start seeing stores shutting their doors again. We are desperate for jobs around here and going out of business signs are back around. A few years ago - at first they were a great opportunity to hit up some huges sales but over time I've begun to REALLY resent those signs. It's depressing to see them coming back. :cry

Plesae Lord please don't let us go back to 2009! :pray2 :beg


US economy added 69K jobs in May, fewest in a year, unemployment up
Published June 01, 2012
Associated Press
Quote:
 
U.S. employers created 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up. The dismal jobs figures could fan fears that the economy is sputtering.

http://www.foxnews.com/politics/2012/06/01/jobless-rate-friday-mornings-now-leading-political-indicator/



Stocks Tumble as Traders Pan Grim Data
Quote:
 
Adding to the gloomy sentiment, the manufacturing sector in the eurozone contracted at the swiftest pace in nearly three years, according to a closely-watched survey by Markit in London.

Of particular concern to many market participants was that Germany, Europe's biggest economy, which has been generally resilient to headwinds from the debt crisis, saw its biggest deterioration in manufacturing since June 2009.

http://www.foxbusiness.com/markets/2012/06/01/dismal-jobs-report-ignites-selloff/








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bopeep1909
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Alot of companies are going out of business around here too.Many have been layed off.Really bad times when you hear in the news that it is getting better. :headscratch
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Blessedx4
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:sigh According to the news we're suppose to be in a recovery.


editing- sorry I meant to put a nodding-in-agreement emoticon :madnod :lol
Edited by Blessedx4, June 1, 2012, 3:01 pm.
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cricket55
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Recovery?? Tell that to those who do not have a job or will be losing those soon.
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Blessedx4
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Older Americans learn new trades in tough jobs market
Thu, May 31 2012
By Lucia Mutikani
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Thousands of Americans aged 55 and older are going back to school and reinventing themselves to get an edge in a difficult labor market, hoping to rebuild retirement nest eggs that were almost destroyed by the recession.

Quote:
 
According to the Federal Reserve, household financial assets, which exclude homes, dropped from a peak of $57 trillion in the third quarter of 2007 to just over $49 trillion in the fourth quarter of last year, the latest period for which data is available.

A survey to be released this summer by the Public Policy Institute of AARP, an advocacy group for older Americans, found a quarter of Americans 50 years and older used up all their savings during the 2007-09 recession. About 43 percent of the 5,000 respondents who took part in the survey said their savings had not recovered.

To read more > http://www.reuters.com/assets/print?aid=USBRE84U09J20120531
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bopeep1909
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cricket55
June 1, 2012, 4:52 pm
Recovery?? Tell that to those who do not have a job or will be losing those soon.
Yea,thousands are sitting at home applying for jobs saying"What recovery?" :leery
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Duckdogger
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Much is said about the reluctance of US companies to move forward due to the dire circumstances in Europe and potential trickle down impacts.

Hope it works out for the EU but in the interim, American companies need to focus on what America needs and move forward. Self fulfilling prophecies can go both ways.
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