The dismal November jobs report has commentators pointing derisively to a “jobless recovery.” But investors shouldn’t overreact: Employers have historically held off on hiring when the stock market has been volatile.
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The stock market’s powerful two-day rally nearly fizzled out Friday after the unemployment rate unexpectedly jumped to 9.8%. But traders managed to find a silver lining even in that grim news, and stocks found a way to eke out a gain.
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Why the Ugly Jobs Report Was Good for Stocks [VIDEO] originally appeared on DailyFinance on Fri, 03 Dec 2010 16:15:00.
Filed Under: Economy, Investing, Earnings, Currency, NYSE, Video, Market News, Streetwise
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The economy added just 39,000 jobs in November — substantially less than expected. And the jobless rate rose to 9.8%. The report shows that despite a year of GDP growth, America still hasn’t overcome its worst job drought in d…
The Dow jumped skyward on Wednesday as stocks rallied around the globe on a stream of strong economic news, both abroad and in the U.S. A less anxious outlook for European sovereign debt also helped.
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