> On Aug 8, 2009, at 6:23 PM, Bill O'Connor wrote:
>
>> Small wonder the stock market goes up when unemployment is high.
>
> Not right now. The stock market rises when employment news comes in
> better than expected, as it did yesterday. The consensus was that
> payrolls would decline by 325,000-350,000; instead, they were down
> 250,000, and the market rallied.
>
> Ditto the weekly unemployment claims numbers. Laura Flanders got this
> way wrong the other day.
I caught her show, I thought she was just going by the same old saw that I was. But could the market rise be due to the fact that the decrease in the official U3 was just because of the reduction in job *seekers*?
-- In Solidarity, Billy O'Connor