Wall Street Buoyed By Good Unemployment Report

Friday stocks have responded in a big positive way to a better than expected unemployment report in which the unemployment rate dropped down to 7.5% or the best since the late last days of the Bush Administration as the economy added a better than expected 165,000 new jobs in April. That was 30,000 more than was expected by most analysts. Wall Street stocks were up over 150 points at last glance.

Even though the U.S. economy is certainly in a tough struggle, the American economy appears to be stronger and more stable than many of the other Western nation economies, where the situation is much worse. In Spain, the unemployment rate recently topped 27%. And Greece and Cypress have struggled with serious debt crises. Japan is printing $650 billion in new currency to pay government’s bills. And even China is having a number of concerns with slowing factory demand.

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