TrimTabs Tempers Jobs Data Expectations
January 4, 2012 by Jon C. OggTrimTabs 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.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.