"The benchmark Dow Jones Industrial Average rose to an all-time record Tuesday on news that China was pledging to plow more money into its economy, returning the markets to highs not seen since before the financial crisis. By 10 a.m. Tuesday, the Dow was up nearly 90 points, or 0.74 percent, to 14,216.70, blowing past a record that was set Oct. 11, 2007, during a time when the economy was just peaking and headed toward disaster. [...] The Dow’s record high confirmed that the ongoing political paralysis in Washington has failed to spook the markets much in the last year." —The very rich don't seem to be bothered by [...]
The number of long-term unemployed (those jobless for 27 weeks and over) rose from 5.1 to 5.4 million in May.
— James Pethokoukis (@JimPethokoukis) June 1, 2012
The image being used on Business Insider to describe today's jobs numbers is of stuff blowing up. "The yield on the benchmark on the 10-year Treasury note plunged to 1.46 percent, the lowest on record." The U-6 (total unemployed, plus marginally attached, plus people forced into part-time work, as percent of labor force) is down from a year ago but up from last month, just under 15%. But here's the long view on jobs; here's [...]