TrimTabs Tempers Jobs Data Expectations

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By Jon C. Ogg Published
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TrimTabs has some data on the employment picture that may dash some hopes of that continued improvement seen recently.  The report shows that the economy added only 38,000 jobs in December. This figure is down 41% from the 64,000 jobs added in November. Cited as a factor is the deceleration in job growth in December as a reflection of a generally soft economy.  Real wages and salaries are declining on a basis net of inflation and consumers are responding by cutting back.  These employment estimates are based on an analysis of daily income tax deposits to the U.S. Treasury from all salaried U.S. employees.  They are said to be historically more accurate than initial estimates from the U.S. Bureau of Labor Statistics.

Bloomberg expects the Friday report on unemployment to tick up 0.1% to 8.7% and expects that non-farm payrolls grew by 30,000 to 150,000.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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