Jobless rate in US climbs by 0.2 % and the DOW climbs by almost same rate!

Today (December 2010) as the US jobless rate climbed by 0.2% to a dismal 9.8% the stock market actually went up by 0.17% which when rounded is a 0.2% rise!

Experts on the stock market say that the market believes that the Government actions will increase as will be the bipartisan moves in the US to fix things. Today at a business group holiday party I found the mood better (is it the holidays?) despite the slight uptick in the unemployment rate. Everyone seems to realize that more action is needed and not just by the Government or legislature but by individuals. Everyone needs to take action and the sense of urgency is palpable in the US.

Employers and potential employees are both taking steps forward. These are baby steps but these are  steps in the right direction. In the genre of good news is the November report from ISM which reports the PMI  at 56.6%  indicating a 16th straight month of manufacturing growth and 19th month of economic growth.

2011 should be a year that will see US unemployment coming down.

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