It’s going to be a bumpy economic ride.
Today’s unemployment number went up to 8.2%. Only 69,000 jobs were created in May. More bad news: April’s 115,000 job gain was revised to just 77,000. Today’s number marks the fewest jobs in a year.
As a result, gold shot up $30. News earlier in the week showed that companies have cut their spending as well as hiring. The European Greek drama has yet to hit us fully yet.
Add to that, China’s not looking so good either. Their manufacturing has dropped. Here’s what one expert says: