Non-farm payrolls fell by 467,000 for June versus a consensus estimate of down 350,000. The unemployment rate rose to 9.5% from May”s 9.4%. The unemployment rate in the 1981-1982 recession peaked at 10.8%.
These numbers are in contrast nbso online casino reviews to the fairly positive news on the ISM from yesterday. The ISM index rose to 44.8 from 42.8, and a reading above 50 indicates that the economy is expanding.
The market doesn”t like the numbers, and declines are outpacing advances by 9 to 1.
