Non Farms & Unemployment 10/06/08
In our top story tonight, the leader of al-Qaida in Iraq, Abu Musab al-Zarqawi, is STILL dead and someone else has taken his place.
Unemployment Rate 4.6% vs prior 4.7%
Inside the number: Total employment 144.9M, unemployed 6.9M, marginally attached 1.3M.
Sept. Non Farm Payrolls +51K vs est 123K
Inside the number: +51K is the lowest increase this year, However revisions in July +123K & August +188K yielded an increase of 62K.
Way inside the number: Deflation of the housing bubble is taking effect; housing related employment -25K after posting an average of +14K per month over ths last two years.
Residential construction -13K, Specialty construction trades - plumbing & electrical -17.5K, Manufacturing of wood products, mineral products and furniture -12K.
The constriction of the housing ATM is also taking effect. Witness, gains in healhcare & financial were also offset by a 19K loss in manufacturing of durable goods.
Furthermore, retail sector -12K, 2nd straight decline & -48K over the last six months, and service industries +62K, the slowest growth since last October.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!
Unemployment Rate 4.6% vs prior 4.7%
Inside the number: Total employment 144.9M, unemployed 6.9M, marginally attached 1.3M.
Sept. Non Farm Payrolls +51K vs est 123K
Inside the number: +51K is the lowest increase this year, However revisions in July +123K & August +188K yielded an increase of 62K.
Way inside the number: Deflation of the housing bubble is taking effect; housing related employment -25K after posting an average of +14K per month over ths last two years.
Residential construction -13K, Specialty construction trades - plumbing & electrical -17.5K, Manufacturing of wood products, mineral products and furniture -12K.
The constriction of the housing ATM is also taking effect. Witness, gains in healhcare & financial were also offset by a 19K loss in manufacturing of durable goods.
Furthermore, retail sector -12K, 2nd straight decline & -48K over the last six months, and service industries +62K, the slowest growth since last October.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!
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