BG,
Future Indicators down after early economic reports.
Going with
DOWN on Thursday,
gl,
baz
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Economic Reports:
Average Work Week.....33 hours, down from 33.1 hours in May.
Hourly Earning--------$18.53 showing a 2.7% increase, smallest gain since Sept. 2005
Initial Claims........614,000 which was 1K less than expected.
Nonfarm Payroll.......467,000, 365,000 was expected. 9.5% highest rate since 1983
Factory Orders 10:00am(Eastern)
Unemployment was 9.5% for June, which is the highest rate since 1983.
"Unemployment is projected to keep rising for the rest of the year just as the income boost from the
stimulus package fades, undermining prospects for a sustained rebound in household purchases."
More firings are in the works following the bankruptcies of GM and Chrysler LLC as shutdowns ripple
through auto-parts makers and car dealers.
Payrolls at builders fell 79,000 after decreasing 48,000.
Service industries, which include banks, insurance companies, restaurants and retailers, subtracted
244,000 workers after falling 107,000. Retail payrolls decreased by 21,000 after a 17,600 drop.
Financial firms reduced payrolls by 27,000, after a 30,000 drop the prior month.
Government payrolls decreased by 52,000, the biggest decline since July 2007,
after dropping 10,000 the prior month. The decrease reflects the layoff of workers hired on a temporary
basis to prepare for the 2010 census.
Unemployment will “remain painfully high for several more years,”
Federal Reserve Bank of San Francisco President Janet Yellen said this week."
.................................................. .................................................. ......
On a Side Note:
LONDON (AP) -- Unemployment in the 16 countries that use the euro spiked to a ten-year high in May,
reinforcing concerns any recovery will take time now that more than 15 million people are out of work.
This is significant because Europe makes up about 1/3 or World GDP.
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YouTube - I.O.U.S.A.: Byte-Sized - The 30 Minute Version
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Startnet Gypsy,
It appears that he has not been posting at Majorwager for a while now.
I did a search for any recent posts of his.
Have no idea why he isn't posing anymore.
I thought that maybe he has been taking some R&R or on a vacation.
Itīs good to take a break from the financial markets every now an then.
Well send him an inquiry.
BostonGambler, where are you???
