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Wednesday, April 7, 2010 as of 11:14 AM ET

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Government Job Creation

Politicians and pundits frequently refer to the ability of the President of the United States to "create jobs" in the U.S.

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Dow's gain for the year vanishes as stocks plunge after weak report on US jobs

Stocks fell sharply Friday after the release of a dismal report on job creation in the United States.

The Dow Jones industrial average dropped more than 200 points, erasing what was left of its gain for the year.The Standard & Poor's 500 index and Nasdaq composite index both fell more than 1.5 percent in early trading.American employers added just 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up to 8.2 percent from 8.1 percent. Economists had forecast a gain of 158,000 jobs.A little more than an hour into trading, the Dow was down 215 points at 12,178, leaving it with a loss of 0.3 percent for the year. Earlier this year, the Dow was up more than 8 percent."The big worry now is that this economic slowdown is widening and accelerating," said Sam Stovall, chief equity strategist at S&P Capital IQ, a market research firm.The weak jobs report sent traders stampeding into U.S. government bonds as a safe investment. Bond prices rose sharply, and the yield on the ...

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  1. US economy added 69,000 jobs in May, fewest in a year; unemployment rate rose to 8.2 percent

    The U.S. economy suddenly looks a lot weaker.Only 69,000 jobs were added in May, the fewest in a year, and the unemployment rate rose from 8.1 percent to 8.2 percent...

  2. US economy added 69,000 jobs in May, fewest in a year; unemployment rate rose to 8.2 percent

    The U.S. economy suddenly looks a lot weaker.Only 69,000 jobs were added in May, the fewest in a year, and the unemployment rate rose from 8.1 percent to 8.2 percent...

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