Friday, May 7, 2010


The Lehmann Letter (SM)

Today’s employment report was terrific:

Nonfarm payroll employment grew by 290,000 with gains across almost all sectors of the economy. The unemployment rate rose to 9.9% from 9.7% as more people reentered the labor force. (The rate will rise if the labor force grows faster than employment.)

The stock market may be down, but news of strong job growth is a great way to end the week.

© 2010 Michael B. Lehmann

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