Investors had a long Memorial Day weekend to be free of the U.S. market, but this week could make that mini-vacation seem like a distant memory. A large number of data points are on the calendar, ending with the most watched of all on Friday, the monthly jobs report.
The U.S. unemployment rate, which stands at 8.1 percent, has ticked down in recent months, but since the beginning of the year the pace of jobs growth has slowed. In April, just 115,000 nonfarm payroll jobs were created, down significantly from the revised figures for March (154,000 jobs) and February (259,000 jobs).
If the jobs picture does not improve in the coming months, President Barack Obama could face an uphill challenge when American voters head to the polls in November. History has not be kind to presidents who preside over high unemployment. No president has won re-election with unemployment above 6% since World War II, with the exception of President Ronald Reagan in 1984,Read More »from A Strong Consumer Is Key to a Strong Job Market: Laura Tyson