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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