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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Markets Open Up on Job News

Wall Street opened up this morning on news that the July unemployment rate dropped to 9.4 percent from 9.5 percent in June.

In the first 15 minutes of trading, the Dow was up about 60 points, or about 0.7 percent.

The broader S&P 500 was up about 0.8 percent and the tech-heavy Nasdaq was up nearly 1 percent.

Labor Secretary Hilda Solis said on CNBC moments ago that "we're at least on track to stabilizing the patient," saying the stimulus money had helped keep people in jobs. "But the patient still has a fever."

The Ticker will dive into the unemployment numbers later this morning.

President Obama will speak on the economy at 1:15 p.m. today.

-- Frank Ahrens
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By Frank Ahrens  |  August 7, 2009; 9:47 AM ET
Categories:  The Ticker  | Tags: Dow Jones, Hilda Solis, nasdaq, s&p 500, unemployment  
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Next: Unemployment Dips Slightly: What Does It Mean?

Comments

OBAMA COOKS THE BOOKS ON UNEMPLOYMENT

Todays NYT explains how Obama Cooked the Bools on unemployment to manufacture a "DECLINE":

"The unemployment rate dropped to 9.4 percent from 9.5 percent in June, but economists cautioned that the unemployment rate had only declined because 400,000 people gave up their search for work and left the labor force. "

RESPONSE: See-- Obama will eventually have GREAT unemployment numbers......Obama just WILL NOT count the long term unemployed.

This beats the scam of "Jobs Saved"......

Posted by: JaxMax | August 7, 2009 10:30 AM | Report abuse


the republicans, or the Party of "NO" need to come up with new ideas...

they ruined the country under their leadership for 24 out of the last 32 years...

the republicans seem to complain all of the time...

even when Bill Clinton was president in-between the "bushes", he left the country with a positive economic surplus...

and the "party of no" has a nerve to complain after almost destroying the country...

just look at how they criticize President Obama on his every move...

the man can't even wear a pair of jeans to a basball game without someone objecting to that...

all President Obama has done in his first 2oo days is:

...economic recovery package pushed and passed...

...prevented the banking system from complete collapse...banks are lending now and showing a profit...

...prevented Wall Street from complete collapse..stocks are up and surging everyday...

...reduced the Iraq troop force...soldiers coming home soon, and Iraq is functioning on its own...

...aggressively looking for Bin Laden while fighting the Al Queda in Afghanistan, which is what we should have done years ago...

...provide stimulus to the auto industry...he originally wanted 4 billion in the plan and the republicans said "no" as usual..guess what is back up to 3 billion total...

...reduced the amount of job losses in the country...

...reduced the amount of unemployment in the country...

...the recent GDP shows that the recession is shrinking, and we are well on our way out of it...

...Obama has infused the educational system, by providing billions in scholarships and funding to 2 and 4 year colleges...

...Obama has met with world leaders and improved our status around the world...

...selected, pushed and passed the first Hispanic Judge on the Supreme Court...

...he is trying to provide quality health care at affordable prices....but the republicans lie to their constituents and rumors are flying like crazy in order to defeat the bill...

...the first bill he signed was equal pay for women in the workplace...

...the real estate and housing market is up for the first time in months...

did i miss anything?...

all of this and guess what...the repubs still complain...`

but that's what you get with the Party of "No"...

Posted by: docdwb | August 7, 2009 10:35 AM | Report abuse

HOW OBAMA COOKS THE BOOKS ON UNEMPLOYMENT

Today's NYT exposes the latest Obama scam on cooking unemplyment numbers...

JUST ABORT THE LONG TERM UNEMPLYED FORMTHE COUNT.

The NYT article today states:

"The unemployment rate dropped to 9.4 percent from 9.5 percent in June, but economists cautioned that the unemployment rate had only declined because 400,000 people gave up their search for work and left the labor force. "

RESPONSE: See, ObamaCare prootes abortion of babies, and ElderAbortion (euthanasia).

Now Obama numbers can look better by UnemploymentAbortion--just do NOT count the long term unemployed.......

Posted by: JaxMax | August 7, 2009 10:49 AM | Report abuse

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