Friday, July 5, 2013

Jobs Sent Stocks Soaring

After the sharp sell-off back to the flatline, stocks then soared, with the Dow closing up 147 points. While there were more jobs created than expected, the unemployment rate rose, and the largest categories of job creation were low-wage, part-time jobs in restaurants and bars. So we're now rejoicing that we're creating jobs only as waiters and bartenders? If that's not a case study of what constitutes bubble behavior, what is?