Neil Cavuto on Unemployment Numbers: This Recovery Is Looking Tepid
On word that the nation’s unemployment rate rose to 8.2 percent in May, the first increase in nearly a year, has the stock market down over 200 points.
Neil Cavuto joined Happening Now with insight saying that the jobs report along with concern about what’s happening in Europe are the cause of the fall in the Dow. “We’re so focused on the slowdown in our economy, that sometimes we lose sight of the fact that a lot of these European countries barely have economies,” Cavuto said.
Cavuto reflected on the job growth in the US, saying that over the last few months, we’ve seen average job growth a little higher than 100,000. “Keep in mind that at this stage in a recovery, Jenna, we should be seeing at least three times that,” Cavuto cautioned. He said that the recovery is looking tepid and the question now looms about whether growth is flattening out or if we are headed to something worse.
Hear more of Cavuto’s analysis below and tune in to Your World at 4p ET for complete coverage of the day’s business news. Plus, watch Cavuto on Fox Business, starting Monday at a new time – 8p ET.