The stock market sunk sharply again today on the U.S. Labor Department's report that the national unemployment rate shot up to 5 percent in December for the first time in 25 months. Private-sector payrolls fell by 13,000, the largest monthly decline in more than four years. The stocks in the BizTimes Stock Index followed the broader market downward this morning, as the New Year is off to an inauspicious start. The largest local decliners this morning were Joy Global Inc. (down $3.76 to $61.00), Kohl's Corp. (down $2.35 to $40.77), Bucyrus International Inc. (down $2.17 to $96.01) and Rockwell International Inc. (down $1.94 to $64.86). Only a handful of local stocks managed to post meager gains this morning, led by Weyco Group Inc. (up 64 cents to $26.84) and Koss Corp. (up 21 cents to $47.48). The BizTimes Stock Index was created by Small Business Times and is monitored by North Shore Bank. The index, which measures the stock values of publicly held companies based in southeastern Wisconsin, is updated daily and can be viewed at www.biztimes.com.
Stock market nosedives as unemployment rises
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