September 4, 2009

U.S. Unemployment up to 9.7%

Mobile post.

Moments ago the August unemployment figures were announced. The numbers were not good, rising three tenths of one percent to 9.7%.

The number of lost jobs was lower than expected 216,000 instead of 225,000, but clearly the economy is not out of the woods yet.

Expect some sell offs today.

UPDATE: Corrected street estimate number to 225,000 from 233,000.

UPDATE 2: Looks like the market likes it so far. Right now the DJIA is up 10 points.

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