Friday, June 5, 2009

Unemployment rate goes to 9.4%

-345,000 jobs

The non seasonally adjusted U-6 rate goes to 15.9%, from 15.4% the month before.

The seasonally adjusted, U-6 rate goes up to 16.4%, from 15.8%.

It's not a good number, (but it's comparatively better) but unemployment is a lagging indicator, and the shift from bonds into stocks continues.

I wouldn't be surprised though if traders hit these bids with the market up 1.5% on this news.

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