Stocks Open Lower on Weak Job Figures ....(down 107)

[RedEarth]

NEW YORK - Stocks opened sharply lower Friday as investors reacted to a new report showing the economy created far fewer jobs in July than analysts had expected.



In early trading, the Dow Jones industrial average was down 97.41, or 1 percent, to 9,865.62.


Broader stock indicators also fell. The Standard & Poor's 500 index was down 9.50, or 0.9 percent, to 1,071.20, and the Nasdaq composite index was down 24.51, or 1.4 percent, to 1,797.12.


The decline in stocks came as traders pored over new payroll figures showing employers added just 32,000 jobs last month, low enough to warrant worries that a slowing in the economy in June may have been more just a brief pause.


The 32,000 jobs added in July marks the weakest increase in hiring since December and comes after a revised gain of just 78,000 in June, even less than previously reported. Economists had forecast the creation of roughly 243,000 jobs for July.


http://story.news.yahoo.com/news?tmpl=story&ncid=1196&e=6&u=/ap/20040806/ap_on_bi_st_ma_re/wall_street&sid=95609876

[Snellius]

1. Even the big-bucks Bush boosters won't be able to help today

Instead of counting their blessings, the market will now desperately feel out how far down the bottom will go today. -200 wouldn't be surprising.

[Manix]

2. yup...the imbecile said he was doing everything he could to harm the US

[Der_Alte]

3. weak job figgers

weak??? you call 32,000 in one month weak? hey, they were predicting 20,000.

[htuttle]

4. They were predicting 220,000 not 20,000

I don't know where you heard 20,000.

:eyes:

Given that they need to add over 100,000 every month just to keep up with population growth, I'd say that 32,000 is very week.

[TahitiNut]

7. 2.14% is the 50-year average yearly increase in private employment

That average is based on the (unadjusted) monthly private employment figures going back fifty years from the beginning of the Busholini Regime (1951-2000).

The average for the thirty years pre-Smirk is 2.19%.

The average for the Busholini Regime is -0.76%!

The number employed in the private sector went over 100,000,000 (100 million) in 1997. It reached a maximum of 112,179,000 in November 2000 and has been lower ever since.

So, an average increase (just in private jobs!) should be more than 2.4 million per year, or more than 200,000 per month!!


'W' stands for 'Woebegone' - where all achievements are below average.

[tom_paine]

8. Where do you think he heard the 20,000 LIE?

Pillboy?

O'Reichley?

Mannthrax?

Yawn.

[RedEarth]

5. Read not only this strory, but others....they were predicting over 200,000

so yes, 32,000 is weak.......

[Ms. Clio]

6. Please post a link to support your claim that "they" predicted "20,000"

And who is "they?"

Freeptards don't count.

[markses]

9. 20,000?

You really are a dumbass. That's 400 jobs per state. Use your fucking head.

[The_Casual_Observer]

10. Der_Stupid

That was 240,000 predicted. I don't know how long it has been since the figure was this low.

Wave bye bye to Herbert Walker Jr.