Employers cut jobs for 6th straight month

Employers cut jobs for 6th straight month

news.yahoo.com

WASHINGTON - Employers cut payrolls by 62,000 in June, the sixth straight month of nationwide job losses, underscoring the economy's fragile state. The unemployment rate held steady at 5.5 percent.

The latest snapshot of business conditions, released by the Labor Department on Thursday, showed continued caution on the part of employers who are chafing under high energy prices and are uncertain about how long the economy will be stuck in a sluggish mode, reflecting fallout from housing, credit and financial troubles.

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news.yahoo.com...
Oil prices near $146 a barrel for 1st time ever

Oil prices neared $146 a barrel Thursday for the first time ever on reports of declining U.S. stockpiles and the threat of conflict with Iran.

Comments by Saudi Arabia's oil minister suggesting his country had no immediate plans to boost production also lifted prices

[edit on 3-7-2008 by KMFNWO]

I am so glad that there is no economic depression coming and that were not seeing the decimation of our dollar and that people were getting all excited about nothing.

Surely you (you know who you are) remember so fervently assuring us that this was just a normal cycle right? You haven't forgotten have you? Well I haven't, and will you only now admit that you were wrong? No I doubt you will.

Stop misleading your fellow man you are leading them to destruction and I hope someday you are held responsible for your actions here.

No one is an expert here, no one has ever seen what is happening here and what is yet to happen.



news.yahoo.com
(visit the link for the full news article)

[edit on 3-7-2008 by KMFNWO]

They will disappear from this board the minute they're proven wrong. As if they haven't been already. But, being a man of Faith, I believe they will ultimately be held responsible for misleading others.

Yeah, the unemployment numbers were only as bad as expected. Therefore, that's good news. The ECB only raised rates as much as expected and we conveniently forgot the 'inflation explosion' statement by Trichet yesterday, so that's good news.