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vision-master wrote:Just listen to these shills.......
You dudes need to start a Church.
The private sector created an eye-popping 297,000 jobs from November to December, according a report from ADP that was the highest number the payroll firm has ever reported. The number was far higher than the 100,000 economists expected the ADP report to show and sets the stage for what could be a positive surprise Friday when the government releases its monthly nonfarm jobs report. That report is expected to show 140,000 jobs were created.
vision-master wrote:Better? I just heard about this baker with 25 years experience losing his job, only to find another one that pay's $9.06 hr. Recovery for who Oily?
Jan. 5, 2011, 11:03 a.m. EST
Services sector expands in December for 12th month
Strongest reading since May 2006
By Steve Goldstein, MarketWatch
WASHINGTON (MarketWatch) — The services sector expanded in December for the 12th straight month and at an accelerating pace, according to an index of purchasing managers released Wednesday.
The Institute for Supply Management’s non-manufacturing index rose to 57.1% from 55.0% in November, marking the 12th month in a row the gauge has been above the 50% unchanged line and topping MarketWatch-compiled economist expectations of 55.6%.
It was the strongest reading since May 2006, and the reading shows that the services sector overtook manufacturing in December — the first time in 18 months — as retailers enjoyed a strong Christmas selling season. Real estate, rental and leasing, and information were also among the 14 industries showing growth.
Elsewhere Wednesday, outplacement consultancy firm Challenger Gray & Christmas Inc. reported that planned layoffs reached just over 32,000 in December, down 29% from the prior year, and the lowest monthly total since June 2000. And for 2010 as a whole, employers announced plans to cut about 530,000 jobs, the lowest since 1997, according to Challenger.
Armageddon wrote:Those $8.00 temporary Christmas jobs are really going to get the economy booming.
OilFinder2 wrote:vision-master wrote:Better? I just heard about this baker with 25 years experience losing his job, only to find another one that pay's $9.06 hr. Recovery for who Oily?
For almost 300K newly-minted private sector employees last month according to ADP, that's who.
Also for lots of people in the service sector in December.
vision-master wrote:No recovery for main street, just wall street - how is taht gonna help me?
Treasury Secretary Timothy Geithner asked Congress to raise the US debt ceiling Thursday, firing the starting gun on a fresh political battle over the country's massive deficit.
In a letter the Senate's top legislator, Geithner asked for permission to increase the national debt from the 14.29 trillion dollar limit set last year.
Geithner warned that ceiling would be reached as early as this March, and called on Congress to act to avoid the treat of default.
While today's unemployment number came at a low 9.4%, well below expectations, the one and only reason for this is that the labor force in America has plunged to a fresh 25 year low. Assuming a reversion to the mean in the long-term average participation rate back to 66%, means that the civilian labor force, which in December came at 153,690, a drop of 260,000 from November, is in reality 157.6 million, a delta of 3.91 million currently unaccounted for. [T]he unemployed population ... would have been 18.4 million if this labor force delta was incorporated, resulting in an unemployment rate of 11.7%.
ZH: The non-seasonally adjusted underemployment rate (U-6), probably the one metric that has the least possible amount of Department of Turh intervention, has come at 16.6%, a jump from 16.3% in November, and the highest since July 2010. It is also the third consecutive month of deterioration, roughly since QE2 started. There goes your economic recovery. But at least quantitative easing is boosting the wealth effect of all those employed (on Wall Street) and adding to the poverty effect of everyone else. In the meantime, can someone please switch the ABC confidence index with the ADP bullshit indicator in terms of data significance?
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