Friday, June 4, 2010

AP: Hiring Is Weak, Hungary Is Hungry

The Associated Press reports via Yahoo News that the newest jobs report for the U.S. is weak. It turns out that almost all of the hiring that took place was temporary federal government hiring for the census. Stock markets have not responded well to this news.

In an unrelated but likewise disappointing item, the story also relates that Hungary says the condition of its economy is "grave." One advantage Hungary has that Greece has not: Hungary has its own currency, the forint. In other words, they are outside the euro zone and can devalue their currency if needed. Greece does not have access to this tool of economic management.