Friday, October 05, 2012

Solid Jobs Report

The economy added 114,000 jobs last month and there were significant upper revisions to prior months. The end result is that unemployment ticked down to 7.8 percent.

The report is not spectacular, but it is very solid. Given the economic troubles around the globe it shows that the U.S. economy is on fairly solid footing.

Obviously, this type of report reassures the markets and is a good sign for President Obama. The stock futures markets look to pop at the open and the Intrade numbers now show President Obama's re-election at over 68 percent. This is about a 3 point pop from where it was before the jobs report came out.

1 comment:

Dennis said...

The jobs report flat out sucks (pardon my stronger than usual language). See my more recent comment for details.

"A 1/32 Cherokee Tea Party guy having fun"

"We don’t believe that anybody is entitled to success in this country." -Barack Obama from a 10/5/12 speech in Virginia