We move on now, and to big news for american jobs and 401(k)s TONIGHT. First, the new jobs report out, beating the predictions. 16 a,000 jobs added just last month. The unemployment rate dropping now... See More
We move on now, and to big news for american jobs and 401(k)s TONIGHT. First, the new jobs report out, beating the predictions. 16 a,000 jobs added just last month. The unemployment rate dropping now do to 7.5%. That's the lowest in five years. And stocks soaring today into unchartered territory. The do cracking that all-important 15,000 mark. So, what does it mean for american retirement accounts? Abc's rebecca jarvis at the stock exchange tonight. Reporter: David, good evening to you. And what it means is that a of folks could have a very nice surprise when they open their investment memos this month. It also could have a positive ripple effect on jobs and the economy. This month and the way the market has been going this year makes me very happy. Reporter: Newly-retired carey horowitz watched the 401(k) CRATER FOR YEARS, BUT Instead of panicking, he did nothing. A decision that's paying off for him and many others. Since hitting bottom in march 2009, stocks have climbed a staggering 139%. So, if you invested $10,000 during the worst of the great recession, today you'd have more than doubled your money to almost $24,000. People will not have expected HOW WELL THE 401(k)s HAVE DONE, Because the broad public hasn't paid a lot of attention to where the stock market has gotten to at this point. Reporter: But investors are still nervous. Before the financial crisis, 65% of us had money in stocks. Today, that number has dropped to just over half. What does all this mean for people who don't have money in the stock market? Mostly, a reflection for economic recovery remains on track. And it seems like big companies are in a position to benefit from that. Theoretically, they should be doing a lot more hiring. The question is, rebecca, will that 15,000 mark on the dow today encourage companies with so much cash on the sidelines to now hire again? Reporter: As you said, theoretically and you repeated it. That's an important of this. But also consumers. This is a psychological thing for most people. 15,000 on the dow is a big number and consumers might hear it and think, I feel a little safer and they might go out and spend money. If they spend money, that goes towards buying products and services, ultimately companies have to hire people to create those products and to fill those services. And we are all waiting for that. Rebecca jarvis downtown tonight, thank you.
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