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Nov 6th, 2009: Pre-Market – Unemployment 10.2%

Posted by pugsma on November 6, 2009

Well, there you have it.  Double digit 10.2% unemployment in the US.  The expecation was a for a rise from 9.8 to 9.9%.   The October job losses came in at -190,000, which is worse than the -175,000 forecast.  But better than the -263,000 lost in September.

This October Jobs Report should cast a shadow over the bulls today.  The C-leg down I expected may have begun.  The futures are pointing to a 5 to 6 point drop at the open.

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