Friday, 3 April 2009
Staggering US unemployment rate
US are haunting us with its unemployment rate for March-09.
Guess, Guess, Guess... Its 8.5% !!!
This is not the end of the story, because April most likely would be the same (if not worse).
Anyway, this is not suprise for us as an investor. Even after annoucement, Wall Street still holding very well (for the time-being). For the past one week, Wall Street had shoot up 10% due to over-optimism on G20 summit.
However, I would like to remind everyone here. The 8.5% is meant for unemployment rate, not GDP growth (hahaha). Thats why nothing to celebrate. To make thing worse, we expect that US 1Q09 GDP growth would be in the red too.
Take care !!!