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