Friday, June 3, 2011

Unemployment Jumps to 9.1%, Not Unexpected; IWM Puts Jump

The employment figures were a huge disapointment today, but nobody can say they were unexpected.

May nubers showed that employers hired only 54,000, the fewest in eight months. Worse, the unemployment rate rose to 9.1%.

The Labor Department data indicates that the  U.S. economy is slowing and the hiring rate has weakened dramatically. Private companies hired only 83,000 new workers in May, which is the fewest in nearly a year.

Stock futures plunged, which will be good for IWM puts.

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