8:30AM Payrolls tumble in April by Rachel Koning
Payrolls outside the farm sector dropped by a larger-than-expected 223,000 in April, the Labor Department reported Friday. It was the largest drop seen in more than 10 years. The unemployment rate rose to 4.5 percent, its highest level since October 1998. Economists were looking for a 21,000 payroll gain on average last month and expected the unemployment rate to uptick to 4.4 percent. Job weakness was strongest in the services sector, an area of the economy that had proved resilient even as the factory sector slumped. Services jobs alone fell by 121,000 only to be countered by modest gains in retail and government jobs in April. Manufacturing jobs fell by another 104,000 and construction jobs slumped after rising in March. The weakness may give the Federal Reserve license to slash a key interest rate by another aggressive 50 basis points this month.
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Der kurzfristige Trend zeigt erst einmal nach unten, da überwiegen die negativen Fakten gegenüber der Zinsphantasie. Durch die überkauften Märkte gibt es noch jede Menge Aktien billiger zu verkaufen, wer gestern noch keine Gewinnmitnahmen realisiert hat, wird's wohl heute tun. Außerdem sieht es wieder stark nach Doppeltopbildung bei der NASDAQ aus ...
Gruß, redcrx