Home Viewpoints Economics Rise in Unemployment Tops 22-year High Wednesday, 15 October 2008
             
Rise in Unemployment Tops 22-year High PDF Print E-mail
Written by Nick Osinski   
Monday, 16 June 2008 04:00
Last week"s unemployment figures unnerved the stock market, but we know - by now - that that unnerving didn"t really last. It"s hard to say what the market will react to at all, let alone to what it will react positively or negatively. The fact remains, however, that unemployment is rising faster than ever and this must have real economic impact regardless of what the stock market index figures say today or next week.

I was reading an article on the subject and it"s sometimes worrying to see how an author or analyst will often look for data to confirm or undermine whatever the headlines say. For example, this latest jump in unemployment, which clearly spells negativity for the economy, was discounted by a researcher who found that similar occurrences in the past were followed by significant gains in the stock markets within the following 12-months. Should we, then, be excited by the news that more companies are cutting their workforces, more people are losing their jobs and consumer spending will ultimately be forced down?

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