An article yesterday titled ‘Stocks turn to jobs as first half draws to close’ says an ‘economist poll’ is predicting that a further 325,000 U.S. jobs will be reported lost in June when statistics are released later this week – resulting in an unemployment rate of 9.6%.  As those of you who follow my Blog posts know, I consider the monthly job figures of paramount importance to the timing of U.S. economic recovery.  Last month early ‘job loss poll reports’ suggested a much higher number of May job losses (over 500,000) than ultimately was reported (around 350,000).  Many of these statistics subsequently get adjusted from ‘those first reported’ so who really knows what the correct numbers are?  That said, continuing job losses at over 300,000 per month does not in my view auger well for U.S. economic recovery any time soon.

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