This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Unemployment Hits 10.2%

In another positive, the August job loss total was revised lower to 154,000 from 201,000. Meanwhile, September's job loss total was revised to 219,000 from 263,000.

During October, goods-producing employment continued to trend downward, contracting by 129,000 last month. Construction employment declined by 62,000 and manufacturing employment slid by 61,000.

Meanwhile, service-providing employment fell by 61,000 in September. Retail trade accounted for 40,000 of that decline, while employment in education, health care and business services rose.

Immediately following the employment report's release, U.S. stock futures plummeted while bond yields fell as well. The 10-year note was lately up 13/32 in price, dropping the yield to 3.47%, while the 30-year bond jumped 15/32 in price to yield 4.37%.

Several companies announced job cuts in October, including Boeing (BA - Get Report), Sun Microsystems (JAVA), Comcast (CMCSA - Get Report), News Corp. (NWS - Get Report), AMR (AMR), U.S. Airways (LCC) and Bristol-Myers Squibb (BMY - Get Report).

-- Written by Robert Holmes in New York.

Follow Robert Holmes on Twitter and become a fan of on Facebook.

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
LCC $0.00 0.00%
BMY $65.35 0.00%
BA $149.60 0.00%
CMCSA $58.42 0.00%
NWS $15.49 0.00%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs