Forbes is reporting that the Dow hit 10,000 for the first time since May 2002.
NEW YORK, Dec 9 (Reuters) – The Dow Jones industrial average < .DJI> briefly broke through the 10,000 mark for the first time in 18 months on Tuesday, as investors pushed the index higher in expectation of the U.S. Federal Reserve keeping interest rates at record lows for some time to come.
The Dow Jones industrial average < .DJI> hit a high of 10,003.12 in morning trade, then fell back to 9,989.19.Why do I care? I think that increased confidence in the recovery will encourage companies to start hiring again. Logically one has nothing to do with the other, but if the “expansion” mentality starts to build it will be good news for the economy as a whole, and perhaps even job seekers.
Increased confidence is exactly what we need.
The jobless recovery and a lack of raises is due to people not moving from jobs, which stagnates growth in companies.
The IT recruiting industry is struggling to find the right mix of talent, instead of jobs.
I think in large part this is due to people being afriad to take chances out of a lingering fear the economy is still poor.
Not Southwestern Bell (a/k/a SBC):
SBC plans to cut up to 4,000 jobs in 4th quarter