The Campaign Spot

Markets Up, but So Are Layoffs (UPDATE: Eh, Nevermind.)

As someone who was watching its miserable slide that preceded last week, I should note that the Dow Jones Industrial Average is up about 150 points, and is now only about 550 points below where it was when President Obama took office. (It was about 2300 points higher the day he was elected, at 9625.)

I’m happy to see the markets go up. Having said that, the overall economic picture remains gloomy. Just today, we’re learning the Seattle Post-Intelligencer ceases print operations tomorrow, Sunoco’s laying off one-fifth of their salaried workforce in Pennsylvania, PPG is laying off 2,500.

UPDATE: Nothing like a post on the Dow to make it suddenly reverse. DJIA down about 5.74 points on the day, giving back a lot in the final hour.


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