Market Mover Friday: Thar’s jobs in them thar hills! 231k private sector jobs added, UE rate climbs to 9.9%…

Update: 10:03am EST- Uhh, the DOW is starting to drop rapidly like yesterday, now down 89.62….

yay jobs! as predicted the UE rate is climbing back up as jobs are added. We ‘discouraged’ workers are encouraged by jobs being added and are coming back to the work force looking for employment!

It’s hard to keep a good economy down. Now if only Team Obama would take a vacation or something :0) We would be firing on all cylinders if they weren’t spending like money was going out of style in D.C.

Traders anxiously watching sell orders.

CNBC:

…Employers added 290,000 jobs in April, the Labor Department said on Friday, far more than analysts had expected. The department also revised figures for February and March to show 121,000 more jobs were added than previously thought.

The unemployment rate, however, rose to 9.9 percent as discouraged workers re-entered the labor force to look for work….

…Private sector employment increased 231,000, also the largest gain since March 2006, after rising 174,000 in March. Private payrolls have now grown for four months. Census hiring contributed 66,000 jobs.

Analysts had expected private employment to rise between 50,000 and 100,000 in April….

May 7, 2010. Tags: , , , , , . Economy, Finance, Labor Department, Obama Administration, Politics, Unemployment Statistics, Wall St.

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  1. Private sector gains jobs for 1st time since ‘08 | equity loans replied:

    […] Market Mover Friday: Thar's jobs in them thar hills! 231k private … […]

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