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Investors should stop worrying about the jobs data
Historically, stocks have surged following gloomy reports
On Friday, the Labor Department released its employment report for December. You’re no doubt already aware of the data; 524,000 more jobs were lost in December, making for a total of 2.6 million lost in 2008. The losses have been accelerating, with 1.9 million jobs lost in just the last four months. The unemployment rate rose from 6.5% in November to 7.2% in December.
The comparisons being made are bleak. For instance, it’s being pointed out that the 2.6 million jobs lost in 2008 were the most since World War II ended in 1945,…
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