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'Good News' on Jobs Is Bad News for Stocks

By Vincent Farrell Jr.

 About this article:
 We all are getting tired of hearing the latest piece of economic news preceded by the phase, "It's the worst since World War II." On Friday, the Bureau of Labor Statistics gave us the latest count on job losses and the unemployment rate. It was, by one measure, the worst since WW II -- in total number of lost jobs. But since the population is so much greater today, the percentage is different. The number of jobs lost at 524,000 was more or less in line with projections, but the prior months were revised down by an additional 154,000. The unemployment rate moved up to 7.2%, and while that is not the worst level since WW II, if you include discouraged workers and part-time workers looking for full-time work, the number jumps to more than 13%. The worst "standard" rate of unemployment since World War II occurred...

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