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Friday, April 06, 2007
Jobs
The latest jobs report actually shows an increase in net jobs:
The stock market is closed today, but I'd bet that the report would be seen as negative to the market as it would indicate further inflation fears and, thus, Fed rate increases. But remember, jobs are a "lagging" indicator meaning that it's one of the last sectors of the economy to improve, and one of the last to decline, trailing the economic trend.
Nonfarm payroll employment rose by 180,000 in March, and the unemployment rate was essentially unchanged at 4.4 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today.The details seem to point to some seasonal factors, but we'll take a net increase in employment anytime.
The stock market is closed today, but I'd bet that the report would be seen as negative to the market as it would indicate further inflation fears and, thus, Fed rate increases. But remember, jobs are a "lagging" indicator meaning that it's one of the last sectors of the economy to improve, and one of the last to decline, trailing the economic trend.
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And the line for soup kitchens and charity thrift shops keep getting longer and longer.
Yeah, that kind of job.
Actually, a large chunk of the increase was in construction .... weather improving and all that.