The official news just hit the newswires: The U.S. job market is going down for the count — and more quickly than virtually anyone imagined.
Here are the facts released by the Labor Department: Job growth plunged 77% from last month — from 232,000 to a miserable 54,000 — less than ONE THIRD what Wall Street was expecting!
And the disaster wasn’t just in a few weak sectors either. We saw actual job LOSSES in temporary help, retail, government, and manufacturing.
The potential impact is both overwhelming and pervasive:
It drives a stake into nearly every profit estimate Wall Street was counting on.
It creates a new sense of panic in Washington.
And, what’s most important for you, it opens up a whole new world of profit opportunities that most investors tend to ignore — the rapid-fire, explosive profits that can be generated by FALLING stock sectors.
Click here for my video where I explain exactly why, how and where.
Best wishes,
Mike
Mike Larson graduated from Boston University with a B.S. degree in Journalism and a B.A. degree in English in 1998, and went to work for Bankrate.com. There, he learned the mortgage and interest rates markets inside and out. Mike then joined Weiss Research in 2001. He is the editor of Safe Money Report. He is often quoted by the Washington Post, Reuters, Dow Jones Newswires, Orlando Sentinel, Palm Beach Post and Sun-Sentinel, and he has appeared on CNN, Bloomberg Television and CNBC.
