Friday, February 3, 2012

It's The Economy Stupid: Jobs, Jobs, Jobs

Economic Event

Period

Economic Survey

Actual Reported

Original Prior

Revised Prior

Change in Nonfarm Payrolls

JAN

140K

243K

200K

203K

Change in Private Payrolls

JAN

160K

257K

212K

220K

Change in Manufact Payrolls

JAN

12K

50K

23K

32K

Unemployment Rate

JAN

8.5%

8.3%

8.5%

-

Avg Hourly Earn MoM All Emp

JAN

0.2%

0.2%

0.2%

0.1%

Avy Hourly Earn YoY All Empl

JAN

1.9%

1.9%

2.1%

-

Avg Weekly Hours All Empl

JAN

34.4

34.5

34.4

34.5

Chg in Household Survey Empl

JAN

 

847

176.0

-

Underemployment Rate

JAN

 

15.1%

15.2%

-

 

 

 

WOW!!!  Okay, it’s blowout numbers.  Nonfarm, Private, and Manufacturing job increases all WAY above expectations.  Average weekly hours worked also increased.  So we are employing more and they are working more hours.  That’s an excellent indication that the U.S. economy is not being affected by the problems of Europe so far.

 

This is a good thing.

 

 

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

 

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