Motley Fool Money: 07_02_2010
Motley Fool Hidden Gems Investing
The Motley Fool
4.3 • 3.1K Ratings
🗓️ 2 July 2010
⏱️ 39 minutes
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| 0:00.0 | Everybody needs money. That's why they call it money. |
| 0:09.0 | From full global headquarters, this is Motley Fool Money. |
| 0:19.5 | Welcome to Motley Fool Money. |
| 0:21.0 | Thanks for being here. I'm your host, Chris Hill, and I'm joined by Motley Fool, |
| 0:24.0 | Senior Analyst, Seth Jason, James Early, and Shannon Zero Guys. |
| 0:28.0 | Happy Independence Day weekend. |
| 0:30.0 | And to you, Chris. |
| 0:31.0 | On this week's show, Google's Big Buy, Steve Jobs, rumor hysteria, a different way to fly, |
| 0:37.0 | and what the internet is doing to your brain. |
| 0:39.0 | But we begin with Friday's jobs numbers, which did not impress the stock market. |
| 0:44.0 | The unemployment rate fell to 9.5%, that's down from 9.7%. |
| 0:49.0 | But that was because 650,000 people gave up their job searches and left the labor force. |
| 0:55.0 | So they're no longer counted as unemployed. |
| 0:58.0 | The private sector created just 80,000 new jobs, much lower than expected. |
| 1:02.0 | Seth Jason, I know there's a lot there, but what did you think of the news? |
| 1:05.0 | Well, everybody out there should remember that the news is pretty complex around this and often misleading. |
| 1:11.0 | So these numbers, can I just call them lame? |
| 1:14.0 | When you say the unemployment rate goes down, yet there are fewer jobs and people have given up. |
| 1:19.0 | You're essentially saying, hey, you know what? |
| 1:21.0 | You gave up looking for work, congratulations, you're no longer unemployed. |
| 1:25.0 | And that's obviously completely bogus. |
| 1:27.0 | So I would call this a pretty weak report, and I wouldn't be excited. |
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