Unemployment Data Makes the Wall Street Weary

Stocks on Wall Street U.S. were flagging immediately when the U.S. government announced the employment and unemployment data in July 2010. Those data showed the chance for new employment in the private sector was little.

In fact, stocks on Wall Street showed a good performance because of the shiny financial statements from the issuer.

“After the corporate performance reports improved, emerged the disillusionment from economic conditions that had not changed from the labor side,” analyst Peter Kenny said, as quoted from Reuters, Saturday (07/08/2010).

In July, U.S. has lost 131 thousand jobs. U.S. unemployment rate stable at 9.5%, but 44% of them lost their jobs for six months or longer.

The unemployment rate is to be bad news in the country, thus making direct stocks fell down.

In Friday trading, the Dow Jones index fells 21.42 points (0.2%) to 10653.56, the S & P 500 index fells 4.17 points (0.37%) to 1121.64, and NASDAQ index fells 4.59 points (0.2%) to 2288.47.

While for one this week, the Dow Jones and S & P 500 was showing an increasing of 1.8%, while the NASDAQ index was rising 1.5%.