Investing & trading with exchange-traded funds (ETFs) and closed-end funds (CEFs). Strategies & analysis but no buy or sell recommendations.
Visit SeekingAlpha ETFs
22-Year-High Jump in Unemployment Hits Stocks and Dollar
Posted on June 06, 2008
The NFP lottery results are out. The US dollar slipped against many currencies such as the Euro, Swiss franc and British pound when it was reported today that the US unemployment rate jumped to 5.5% in May from 5% percent in April, much worse than the 5.1% expected by most market participants. Not only is the unemployment rate higher than expected, the 0.5 percentage point increase is the biggest one-month gain since February of 1986, and this unemployment rate is at the highest level since October of 2004. With this number in mind, many investors aren t too pleased with the better-than-expe...
Original article link
Subscribe to SeekingAlpha ETFs