What do we expect in Friday's job report? A preview of what it may contain was published by separate data collection companies. Automatic Data Processing and Macroeconomic Advisors published their findings today. Their estimate is that 371,000 jobs were lost in the latest month, up from the previously estimated 350,000.
This clearly is bad news for workers who now are faced with unemployment and the prospects of losing everything they have worked for. This added to the already large unemployment numbers will create more hardship and take buying power out of the economy.
This number is more unsettling because it was higher than previous estimates. Still more disturbing is that the government stimulus program is not making a dent in the unemployment situation.
These numbers led lower stock prices on the open and lower bond prices. The 10-year note fell 14/32 to yield 3.74% and the 30-year bond fell 12/32 to yield 4.53%.
Do you believe that the government should do more to help stimulate the economy?
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