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IDS World Markets 5/2/03


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Good mornin'.

 

No AM Trading today?

 

FWIW (EDT):

 

8:30 am: Average Workweek for April, prior 34.3, consensus 34.2

8:30 am: Hourly Earnings for April, prior 0.1%, consensus 0.2%

8:30 am: Unemployment Rate for April, prior 5.8%, consensus 5.9%

8:30 am: Nonfarm Payrolls for April, prior -108K, consensus -58K

9:45 am: Mich Sentiment-Rev for April, prior 83.2, consensus

10:00 am: Factory Orders for March, prior -1.5%, consensus -1.2%

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THE EMPLOYMENT SITUATION: APRIL 2003

 

 

The unemployment rate rose to 6.0 percent in April, and nonfarm payroll

employment edged down by 48,000, the Bureau of Labor Statistics of the U.S.

Department of Labor reported today. In April, job losses continued in

manufacturing, some travel-related industries, and department stores.

 

Unemployment (Household Survey Data)

 

The number of unemployed persons increased to 8.8 million in April, and

the unemployment rate rose from 5.8 to 6.0 percent. The unemployment rate

has ranged from 5.6 to 6.0 percent since November 2001. The unemployment

rate for adult men increased by 0.3 percentage point to 5.6 percent in

April. Jobless rates for adult women (5.1 percent), teenagers (18.0

percent), whites (5.2 percent), blacks or African Americans (10.9 percent),

and Hispanics or Latinos (7.5 percent) showed little or no change. The

unemployment rate for Asians was 5.8 percent, not seasonally adjusted.

(See tables A-1, A-2, and A-3.)

 

Total Employment and the Labor Force (Household Survey Data)

 

Total employment, as measured by the household survey, edged up to

137.7 million in April; the employment-population ratio was essentially

unchanged at 62.4 percent. The civilian labor force increased by 680,000

over the month to 146.5 million, after seasonal adjustment. The labor

force participation rate rose by 0.2 percentage point to 66.4 percent,

0.7 percentage point below the rate at the start of the recession.

(See table A-1.)

 

In April, 4.8 million persons were working part time even though they

would have preferred a full-time schedule. The number of such workers

increased by about 600,000 over the year. (See table A-5.)

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Looks like I missed out on all the Globex drama yesterday.

 

Glad I wasn't around for the afternoon shaft.

 

Best to turn off the computer for the next week and wait for the VIX and VXN to roll up.

 

My guess is that more stop sweeping spikes are coming.

 

Commodity Robot Programs are probably having fits lately.

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unemployment should come in over 6%

good calls stoolies - rate is 6%, but "only" lost 48K jobs instead of expected 68K - up go the futures! :lol:

Yes, but they're really struggling to make much progress....could it be a sign that the top is near? I would've expected a blast off after yesterday's screw-the-Globex-shorts-cause-they-can't-get-out rally.

 

Oh my -- as I type -- they're now DOWN! Go Baby Go!

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