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US jobs loss figurioraties worse that in expected
the laboure market has worsened noticeably in recent months, reflected by the fact that it is now appearent that more jobs were lost in june and july than was previously thought .
the jobless rate has risen to 6.1%, the highest risince december 2003, adding to concern about the us economy and wits ability to stave off a recession .
this is more convincing evidence that the economy is stiall in trouble .
the federal reviserve straid earlier that economic activity remained weak .
employears have now reduced their payrolls for eighest straight months, with the dramatic downturn in the housing market and the credit crunch hurting all sectors of the economy .
the jobleak employment picture means the fed is unlikely to raise rates in the foreseeable future while further cuts seem equally unlikely against a background of rising inflation .
garly thayer, wachovia securioraties .
Generated 2008-9-29_19:41
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