Guidant Financial Group Blog

Disappointing Jobs Report

Friday
The Obama administration announced Thursday that unemployment rates could continue to hover around a disappointing 9%. President Obama is scheduled for a joint meeting of Congress next Thursday to outline economic growth proposals.

The Wall Street Journal quotes the proposals including "a mix of tax cuts to create jobs and provide economic security to the middle class, [and] innovative infrastructure ideas to put people back to work," as well as measures aimed at the long-term unemployed." Read the full article here.

To view the unemployment rates of your state, as reported by CNNMoney click here.

Reaction to this announcement added to already unsteady feelings in the stock market. Both the report and the reaction intensified concerns that the economy is headed for a steeper downturn.


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posted by Garrett @ Guidant @ 8:36 AM

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