** ASSOCIATED PRESS: Most Asian markets fell Friday as a weaker-than-expected U.S. jobs report signaled more pain ahead for the world's largest economy. . . . Optimism about the U.S. economy, a critical market for Asian-made goods, buckled after the government said employers slashed 467,000 jobs in June. That was far worse than the 363,000 that economists predicted . . . READ MORE ...**********
** 'TERRIBLE AND GETTING WORSE', WASHINGTON POST ...
** 'VERY SEVERE RECESSION'NEW'', NEW YORK TIMES ...
** 'JOBLESS NUMBERS CONTRADICTADMINISTRATION'S FORECAST'. WALL STREET JOURNAL ...
UPDATE: From Business Week, "Jobs Report: A Blow to Optimism." Also, "Joblessness Hits 9.5%, Deflating Recovery Hopes." And Wall Street Journal, "No Decision Yet on More Stimulus" (via Memeorandum).
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