Financial Headline News for Friday 6/3

More bad news on the economic front today. The Unemployment rate ticked up to 9.1% from 9.0% when it was expected to go down to 8.9%. Only 54,000 jobs were created in May far short of the 150,000 expected.

The Stock Market posted its fifth straight week of losses as the Dow was down 97 points, the S&P fell 13 and Nasdaq was down 4.

Finally, more Americans think the economy will never recover. However, I believe we are down but we are not out. The US came back after the 1920 Recession, Great Depression, and 9-11 and we will come back again once better fiscal free market policies are installed in Washington.

Here are the lead financial stories today:

1) Jobless Rate Rises as Pace of Hiring Slows-From the Wall Street Journal 
Hiring by U.S. companies slowed dramatically in May and the unemployment rate kept rising, adding to concerns the jobs market will still take years to heal as the economy's recovery remains weak.
Nonfarm payrolls rose by 54,000 last month, much less than economists anticipated, as the private sector posted the smallest job gain in nearly a year, the Labor Department said Friday in its survey of employers. Payrolls increased by 232,000 jobs in April.

2) Stocks post fifth straight week of losses-From AP
Evidence is piling up that the economic recovery has lost some of its vigor. That has deflated a stock market rally and pushed indexes down for five straight weeks, the longest losing streak since mid-2008.
So, what's next? Don't hold out hope for more help from the government, analysts say. Another round of stimulus spending isn't in the cards, the Fed has already slashed interest rates near zero and has said it will end its bond-buying program on schedule at the end of this month.
With high gas prices crimping consumer spending and companies still reluctant to hire, investors may have to settle for a stock market and an economic recovery that plod slowly along.

3) More Americans Think Economy Will Never Recover-from CNBC
The mixed signals regarding the economy's health are taking a toll.Americans are growing increasingly doubtful about direction of the US economy, according to the latest survey from business-advisory firm AlixPartners.In fact, an increasing number, some 61 percent, say they don't expect to return to their respective pre-recession lifestyles until the spring of 2014, if ever.
What's worse, a full 10 percent said they expect they will never return to pre-recession spending.

Inspirational Quotes Twitter @Inspire_Us .

Ninety-nine percent of the failures comes from people who have the habit of making excuses. -George W. Carve