MARKET HEADLINES
- Euro Stocks Fall as Goldman Note Hits Banks
- Oil Falls to $144, Within Sight of Record High
- Asia Trades Mixed, Nikkei Continues Losing Streak
- BlackRock's Doll: Market Now a Buying Opportunity
- And Here We Go Again ...
- RBC Sees Market Trends Similar to 2001 Market
- Aetna, HealthNet Down on Goldman Downgrade
- Hedge Fund Swindler Tells Judge He Tried Suicide
- Short-Dated Bonds Benefit From Economic Weakness
- Banks Boost Euro Shares as ECB Hikes
- Aryx shares fall as P&G pulls out of partnership
- Correction: Construction and engineering wrap
- Movers roundup: TranS1, Church & Dwight
- Movers roundup: Lehman Bros., Jacobs Engineering
- Movers roundup: Aryx Therapeutics,Spectrum Control
- Sector roundup: Rental car cos., chips
- Radian says liquidity, business remain strong
- Sector Wrap: Data storage stocks mostly decline
- GM and Ford rebound after prior day's drops
- Sector Snap: Rental Car Companies
Today's report on non-farm payrolls showed a loss of 80,000 jobs and a rise in the unemployment rate, now up to 5.1% from 4.8%. While an increase, the overall job loss numbers are still well below the six figure numbers seen in past recessions. In the 2001 recession, monthly losses hit a high of 325,000. The 1990-91 recession peaked at 306,000 losses. As you can see from the chart below, numbers peak toward the end of a recession (recessions are marked by grey bands), maying employment a lagging indicator.
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Here is a breakdown of where the job losses were as well as which sectors were adding jobs. Worst hit are construction and manufacturing. Health Care and Government, particularly local government, added the most jobs.
Total change in non-farm payroll = - 80,000
- Private Sector = - 98,000
- Natural Resources & Mining = + 6,000
- Construction = - 51,000
- Manufacturing = - 48,000
- Durable goods = -35,000
- Non-durable goods = -13,000
- Services = +13,000
- Wholesale Trade = -5,000
- Retail Trade = -12,000
- Transportation = -4,000
- Utilities = +500
- Information & Media = -6,000
- Financial Svcs & Real Estate = -5,000
- Professional & Business Svcs = -35,000
- Education = +8,000
- Health Svcs = +33,500
- Leisure = +18,000
- Government = +18,000
On the news, the markets are down today. Leading in the declines are NVIDIA[NVDA
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], QLogic [QLGC
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], SanDisk [SNDK
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], GM [GM
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], and Sallie Mae [SLM
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].
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Data is a real-time snapshot *Data is delayed at least 15 minutes