To my subscribers

Nonfarm payroll employment was essentially unchanged in June (+18,000), and the unemployment rate was little changed at 9.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment in most major private-sector industries changed little over the month. Government employment continued to trend down. (BLS)

This is really bad news. The economy is in bad shape according to this report. My analysis in the past issues of The Peter Dag Portfolio and in the current one (7/10/11) explains the implications for the future.

It also reflects, in my humble opinion, on the policies of this administration focusing on social issues rather than the dynamics of growth.

The bottom line. The economy is dead in the water.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest

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