December 7th, 2007
Jobs Report Looks Weak to Me
All the stories about the jobs report being “in line with expectations” never mention the implications of those expectations. If people are expecting a crappy report and are right, it is still a crappy report even though it is in line with expectations.
This morning’s jobs report was one of those.
Sources: Bureau of Labor Statistics data, Stock Market Beat math
The year/year growth in jobs, whether seasonally adjusted or not, is the weakest it has been since June of 2004 (which is when I started tracking it) and the trend is clearly weakening.
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[...] been talking about the weaker trend in employment growth for some time. This report didn’t help at all. The year/year gain in employment was 1.0% on [...]