As a commercial pilot with 30 year's experience, I can tell you that there is no more sickening feeling than hearing your stall warning alarm during a takeoff.

That is exactly what I was hearing Friday morning when the Department of Labor announced that June nonfarm payrolls fell by 125,000.

The unemployment rate fell from 9.7% to 9.5%, and no doubt this will be the headline. The broader measurement of unemployment, which includes discouraged workers, also dropped