Friday, April 3, 2009
Worst may be over for job losses
While today's job numbers showed a year-over-year percentage decline in payrolls that has been the steepest so far since this recession began, there is reason to be optimistic. Other readings of the economy are showing that there is some improvement underway.
Retail sales, manufacturer's orders and a broad index of stocks all have been rising in the past few months, suggesting that the worst is likely over when it comes to job losses. Of course, this does not mean a rapid turnaround in hiring, however, if we just start to see these job losses moderate, that could be good news for stocks and for sentimnet.