U.S. Economy Continues Its Down Turn

July 8. 2008

New York Stock Exchange

The U.S. economy continues to worsen on weakening numbers. Once again oil has gone up, the dollar gone down, the DOW plummeted, the markets are volatile and more jobs have been lost:

U.S. Loses 62,000 Jobs, Jobless Rate Holds at 5.5% (Update2)

July 3 (Bloomberg) -- U.S. employers cut jobs in June for a sixth consecutive month as soaring fuel prices and a slowing economy forced companies to reduce costs.
Payrolls fell by 62,000, close to economists' median forecast, after a 62,000 drop in May that was greater than initially reported, the Labor Department said today in Washington. The jobless rate remained at 5.5 percent after jumping in May by the most in two decades.

http://www.bloomberg.com

Oil hits new record above $145

Oil soars to record near $146 amid concerns over hefty drop in US stockpiles, Iran conflict
Oil prices briefly soared to a record near $146 a barrel Thursday, then eased when the European Central Bank did not signal more rate hikes and a report showed unemployment in the United States has continued to climb.

http://biz.yahoo.com