US Stocks climbed to yet another record high yesterday, the 15th record high of the year, after the European Central Bank unveiled a raft of stimulus measures.
The May jobs report is out this morning and the US economy added 217,000 private sector jobs last month. The unemployment rate remained unchanged at 6.3%. Job gains were seen in all industries except the government sector. Wall St. had expected 210,000 jobs to be created so this number is better-than-expected.(CNBC)
For the first time since December 2007 we have a record in the number of people working in this country. Every post WW two recession saw an average of 44 months to recover the jobs lost in the recession. This time it has taken 77 months to recover all the jobs lost in the 2008-09 recession. And even though we have recovered all the jobs lost in the recession the US has 12.5 mm more people which is why the unemployment rate remains high.(marketwatch.com)
And maybe we can all learn a little something for the baseball legend Don Zimmer who died on Wednesday at 83. Never Retire. Zimmer started in baseball in 1949 and worked in baseball until a month before his death. He always said, do what you love and with a little luck you'll keep doing it for as long as you live. He sure did!