Monday, January 11, 2016

The December jobs report--mixed

I've heard of bad apples--but sad ones? 
I am no admirer of this administration, although I leave politics pretty much out of this site. I do think these jobs reports are spun pretty hard. There may be more jobs, for instance, but not enough to replace those lost, or just seasonal, or part-time, or they ignore the fact that millions have left the workforce--given up or can't find squat. Or whole sectors--say manufacturing (cars excepted)--are lolling in the ditch.

Deanna Hartley writes in CareerBuilder about the latest report--December. First, she says, it was a strong close to 2015--with 292,000 jobs added in December.  Economists predicted 200,000, so this is way more than expected. Unemployment, as they measure it, stayed at 5%.

Hartley also says the previous months were revised up by a total of 50,000 jobs.

But--wages are still no where near where they should be, she says. She quotes the NYT as saying sluggish wage growth remains a persistent thorn--they were also flat in December.

Throw in the shaky stock market and talk of another recession, and how much of this "job growth" is real?

I honestly do not know. But, still--all you need is one!

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