Job Numbers Could Be Key Factor In 2012

07:43

June 02, 2011

Specialists Evan Solomon works on the floor of the New York Stock Exchange Wednesday, June 1, 2011. Fears that the economy is stalling sent the Dow Jones industrial average down 280 points, erasing more than a quarter of the stock market's gains for the year. (AP)

Data released Wednesday shows that both factory production and private sector hiring slowed sharply last month, and many economists expect to see lower job growth when the government releases employment stats tomorrow.

With the weak economic news, the Dow Jones industrial average had its biggest drop in a year yesterday. Unemployment now stands at about 9 percent, and no U.S. President has won re-election with those employment numbers since Franklin Roosevelt. We speak with Binyamin Appelbaum financial reporter for the New York Times.

Wall Street Journal: Stocks struggle for direction

This segment aired on June 2, 2011.