Job Market Sucks Somewhat Less than Expected

The jobs numbers are out today. Unemployment hit 9.4% last month and the nonfarm payrolls fell by 345,000 which was much less than the 525,000 loss Wall Street was expecting.

The unemployment hasn’t been this high since August 1983. The rate is being reported as 9.4% but looking at the details, it’s 9.357% which rounds up.
See how the last two bars on the NFP graph look like the beginning of a trend. That’s what the market has been so excited about.

Posted by Eddy Elfenbein on June 5th, 2009 at 9:40 am

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