Economic Report Summary: Worst Labor Report In Years

http://seekingalpha.com/article/71269-economic-report-summary-worst-labor-report-in-years

The most initial claims for unemployment insurance and the worst labor report in years highlighted the week's economic reports. Stocks and bonds ended with the S&P 500 Index up 4.2 percent to 1,370, now down 6.7 percent for the year, and the yield of the 10-year U.S. Treasury note rose 3 basis points to 3.48 percent.



ISM Manufacturing Report:
The nation's broadest measure of manufacturing activity rebounded slightly, from 48.3 in February to 48.6 in March, but remained below the 50 mark that delineates expansion from contraction.

The index has now posted three sub-50 readings in the last four months and, after the many other poor economic reports of recent months, few analysts are expecting any sort of rebound similar to that which was seen in the spring and summer of 2007.



While the low-40s range for this index is generally considered to be "recession level" (as was the case for much of 2001), it is possible that, due to increased exports resulting from a weaker U.S. dollar overseas, the index may remain above these levels this time around.

As evidenced by weak motor vehicle sales and continuing job loss in manufacturing reported later in the week, the exact level of the index seems to make little difference.

In the most recent report, new orders fell from 49.0 in February to 46.5 in March portending further declines in the overall index in the months ahead.

New export orders, however, continued their recent strength rising 0.5 to 56.5 in March, one of the few categories that continues to indicate expansion. Prices paid surged from 75.5 in February to 83.5 in March, the highest reading since 2003, driven higher by rising commodity prices that manufacturers are increasingly passing on to consumers.


FULL story at link.

Thanks for the report. Triple these numbers and you will get a more "Realistic" picture. Unemployment is now at 15%, if you factor in the people who have quit looking for work or exhausted their unemployment. OUR GOVERNMENT LIES!!!