June 2011 Jobs Report: the Ugly, the Ugly and the Ugly
EUR USD has broken the 1.3569 minor support line but remains within the 1.3600 level for now. Intraday bias remains on the upside, as long as the EUR USD is able to stay above the 1.3569 minor support line. On the downside, the 1.3569 minor support line has been broken which indicates that the currency pair are inclined to go on a bearish sentiment.
U.S. job openings were flat in June while the number of new hires slipped, according to a government report on Wednesday that underscored the persistent weakness in the labor market.
The Labor Department said there were 2.9 million job openings in June, almost identical to May's tally.
Optimists will seize on today's news that the unemployment rate slipped last month for the first time in more than a year. Good news, to be sure, if only because it breaks the formerly nonstop rise in the monthly jobless rate. But the modest decline to a 9.4% unemployment rate in July from 9.5% masks the ongoing job destruction that roars beneath this otherwise encouraging exterior.
Ultimate Software Group Inc. (ULTI) Receives the Ultimate Compliment
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