Unemployment drops to 8.5 percent
Posted January 6, 2012
Stunner of a Jobs number this morning – Unemployment drops to 8.5% with the addition of 200,000 Non-Farm payroll jobs in December. This figure is the lowest number the market has seen since February 2009. The 8.5% follows the revised November rate of 8.7%, which gives us a nice trend to begin the year on the jobs front. Treasury Yields headed north just after the announcement to above 2%, but then retreated almost immediately to 1.97 just before the opening of Friday’s market. It will be interesting to watch the trading day to see how the trading market and bond market digest this most recent positive economic report.