{"id":12733,"date":"2011-07-15T13:34:56","date_gmt":"2011-07-15T17:34:56","guid":{"rendered":"https:\/\/biznews.fiu.edu\/?p=12733"},"modified":"2017-06-28T16:32:21","modified_gmt":"2017-06-28T20:32:21","slug":"wmwu-07052011","status":"publish","type":"post","link":"https:\/\/biznews.fiu.edu\/2011\/07\/wmwu-07052011\/","title":{"rendered":"Weekly Market Wrap Up, July 5-8, 2011"},"content":{"rendered":"<p><strong>U.S. Jobs Report Reveals Worse Than Expected Job Growth In June<\/strong><\/p>\n<p>The stock market ended the week on Friday with a plunge after the Labor Department&#8217;s\u00a0nonfarm payrolls reported an\u00a0increase of 18,000 jobs for the month of June. The figure was substantially below economists\u2019 expectations which forecasted a rise of 125,000. On top of this, the June unemployment rate increased for a third month in a row to 9.2%, a 2011 high. The S&amp;P 500 fell1.2% and the NASDAQ fell by 1.1%. The CBOE Market Volatility Index (VIX) rose by 3.5%, nearing a 4% weekly gain. The VIX (also known as the &#8220;fear index&#8221;) is used by market analysts to measure the market\u2019s volatility, thereby gauging a level of investor &#8220;fear&#8221; in the market. The jobs report came as a surprise to economists since Thursday\u2019s ADP survey showed that the private sector had added 157,000 jobs to the economy in June, beating expectations.<\/p>\n<p align=\"left\"><a href=\"https:\/\/biznews.fiu.edu\/wp-content\/uploads\/2011\/07\/07052011A.jpg\"><br \/>\n<\/a><a href=\"https:\/\/biznews.fiu.edu\/wp-content\/uploads\/2011\/07\/07052011A.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-12736\" title=\"07052011A\" src=\"https:\/\/biznews.fiu.edu\/wp-content\/uploads\/2011\/07\/07052011A.jpg\" alt=\"\" width=\"550\" height=\"340\" \/><\/a><\/p>\n<p align=\"left\">June\u2019s jobs report reflects a lack of expected job growth with the ills of unemployment being felt by millions of Americans two years after the official ending of &#8220;The Great Recession.&#8221; Feeling the necessity to address the public after Friday\u2019s nonfarm payrolls report, President Obama appeared in front of reporters in the White House Rose Garden. Here the President addressed the issue of debt reduction by way of passing a congressional deal to raise the debt ceiling and what he believed to be a major contributor to the lack of recent job growth: business uncertainty over the debt debate. &#8220;The sooner we get this done, the sooner we give business the certainty they need to grow and hire.&#8221; The President reiterated his commitment to U.S. job growth and stated that the June nonfarm payrolls showed that &#8220;we still have a long way to go and a lot of work to do.&#8221;<\/p>\n<p style=\"text-align: right;\"><em>&#8211; Shaun Hoyes<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><em>Article submitted by: \u00a0Shaun Hoyes of the Capital Markets Lab (CML). To learn more about the Capital Markets Lab please visit <a href=\"https:\/\/business.fiu.edu\/capital-markets-lab\/\">https:\/\/business.fiu.edu\/capital-markets-lab\/<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. Jobs Report Reveals Worse Than Expected Job Growth In June The stock market ended the week on Friday with a plunge after the Labor Department&#8217;s\u00a0nonfarm payrolls reported an\u00a0increase of 18,000 jobs for the month of June. The figure was substantially below economists\u2019 expectations which forecasted a rise of 125,000. On top of this, the [&hellip;]<\/p>\n","protected":false},"author":70,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[10,3505],"tags":[311,458,2663,2893],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/12733"}],"collection":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/users\/70"}],"replies":[{"embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/comments?post=12733"}],"version-history":[{"count":5,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/12733\/revisions"}],"predecessor-version":[{"id":28632,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/12733\/revisions\/28632"}],"wp:attachment":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/media?parent=12733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/categories?post=12733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/tags?post=12733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}