Economic Reports 01/04/08
Summary: Nonfarm payrolls evidences the emasculation of the durable US economy with...
job losses of 436K in a single month, boosting "advertised" unemployment from 4.4% to 5% in just one year.
Sad thing is, the worst is yet to come as the service sector rolls over. ISM services holding steady despite stagflated prices.
Nonfarm Payrolls Dec +18K vs prior 94K Full Report
Inside the number: -436K jobs in Dec. Unemployment Rate Dec 5% vs prior 4.7% vs last year 4.4%.
Goods producing -75K; Construction -49K; Manufacturing -31K; Service providing +93K
ISM Services Dec 53.9 vs prior 54.1 Full Report
Inside the number: new orders growing 53.5 vs 51.1; employment growing 52.1 vs 50.8; prices increasing 72.7 vs 76.5
"Market pressures in the fourth quarter continue to slow business and limit growth going into 2008 in the financial services sector." (Finance & Insurance)
"Higher energy costs affecting all facets of our business." (Agriculture, Forestry, Fishing & Hunting)
"Anticipating modest growth in revenues in first two quarters of 2008 if interest rates do not rise and inflation remains in check." (Professional, Scientific & Technical Services)
"There continues to be concern regarding energy, commodity, credit, transportation, etc. These issues are consistent topics of conversation." (Retail Trade)
"General market conditions have not changed since last month. Overall, the supply and demand is still out of balance with pricing being stable." (Construction)
job losses of 436K in a single month, boosting "advertised" unemployment from 4.4% to 5% in just one year.
Sad thing is, the worst is yet to come as the service sector rolls over. ISM services holding steady despite stagflated prices.
Nonfarm Payrolls Dec +18K vs prior 94K Full Report
Inside the number: -436K jobs in Dec. Unemployment Rate Dec 5% vs prior 4.7% vs last year 4.4%.
Goods producing -75K; Construction -49K; Manufacturing -31K; Service providing +93K
ISM Services Dec 53.9 vs prior 54.1 Full Report
Inside the number: new orders growing 53.5 vs 51.1; employment growing 52.1 vs 50.8; prices increasing 72.7 vs 76.5
"Market pressures in the fourth quarter continue to slow business and limit growth going into 2008 in the financial services sector." (Finance & Insurance)
"Higher energy costs affecting all facets of our business." (Agriculture, Forestry, Fishing & Hunting)
"Anticipating modest growth in revenues in first two quarters of 2008 if interest rates do not rise and inflation remains in check." (Professional, Scientific & Technical Services)
"There continues to be concern regarding energy, commodity, credit, transportation, etc. These issues are consistent topics of conversation." (Retail Trade)
"General market conditions have not changed since last month. Overall, the supply and demand is still out of balance with pricing being stable." (Construction)
Comments