NY Times: U.S. Added 431,000 Jobs in May

So as this article, points out, only 41,000 jobs were created in May. But as anyone can tell you, the real unemployment rate is over ten percent because we don't count most of the college grads who don't have jobs. 8 million people lost their jobs in this recession so we need another (8M/41K) 195 months or 16 years of stunning growth like this!

When will the boning cease?

http://www.nytimes.com/2010/06/05/business/econom…

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Comments (13)

Jun 4, 2010 - 9:52am

Also the market is down almost 2% right now. Is this an over reaction or were we over priced before? Will there be a rebound by the end of the day or not? Place your bets.

Jun 4, 2010 - 10:40am

I think we end down 100 points on continued Euorpean fears (i.e. Hungarian economy, Span, and Greece). I remain cautiously bullish despite what I think will continue to be a difficult global economic environment for the next 6-12 months. My biggest concern is all of the remaining outstanding floating debt, which will adversely affect US homeowners and corporate borrowers as interest rates eventually rise. Unemployment will creep back towards 10% but I think consumer spending will pick up over the next 2 quarters.

Jun 4, 2010 - 12:22pm

I'm covering my shorts by this afternoon, like Balbasur mentioned.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard.
-30 Rock

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Jun 4, 2010 - 3:24pm
deltahedge:
'Grats on the short positions revsly must have made some decent dough.

Thanks, I can't complain, I've been lucky enough to be on the right side of a lot of the big moves this year.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard.
-30 Rock

Jun 4, 2010 - 3:38pm

was down 5% last month and am up already 12% this month, had a fairly large position in DOG i was actually going to close out yesterday because i didnt want it to deteriorate. because if friday (today) was positive that would create three green candle sticks on the daily chart and may signal a reversal pattern. i also figured todays jobs report would be good so more than likely it would have been a green friday but for some for some reason i decided not to close out my inverse ETF, so today i am really happy because i listened to my gut and held

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