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North American economy in retreat

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8 months 1 week ago #120318 by Gambler
Gambler replied the topic: North American economy in retreat
313,000 jobs were added last month, the most since October 2015 and the 89th straight month of gains, a record. Economists had anticipated a gain of about 200,000.

The average hourly wage grew by 0.1 percent. It grew by 0.3 percent in January. The year-over-year increase fell to 2.6 percent from 2.9 percent.
The Takeaway

For Wall Street, the combination of a strong job growth and a modest rise in wages makes for a dream report.

“I love it,” said Ellen Zentner, chief United States economist at Morgan Stanley.

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8 months 1 week ago #120317 by Gambler
Gambler replied the topic: North American economy in retreat
Labor Department at 8:30 EST. The consensus forecast from economists is for nonfarm payrolls to be up 205K from January, although there is a wide range of estimates (152K to 230K) this month. The participation rate is expected to stay at 62.7%, while the unemployment rate is anticipated to move to 4.0% from 4.1%. Keep an eye on the average hourly earnings update amid concerns of wage pressures on corporate profit. Inflation fears could be unleashed if wage growth outpaces the anticipated year-over-year rise of 2.9%.

And the numbers are?

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9 months 2 weeks ago #119863 by GoldnBoy
GoldnBoy replied the topic: North American economy in retreat

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1 year 2 weeks ago #119361 by Hoss
Hoss replied the topic: North American economy in retreat
good point, I just don't see where all this economic strength is they keep talking about?? except the bubbly stock markets

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1 year 2 weeks ago #119357 by Gambler
Gambler replied the topic: North American economy in retreat
jobs numbers pretty dismal, was suppose to be a big rebound from September they blamed hurricanes so 18,000 in sept. add the 261k for Oct. we have 279,000 for the 2 months so average is only 140k per month

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1 year 2 months ago #118835 by RonS
RonS replied the topic: North American economy in retreat
GB, it was a miss alright, but the other direction

The U.S. economy created 156,000 jobs in August while the unemployment rate edged higher to 4.4 percent, according to a closely watched government report Friday.

Economists surveyed by Reuters had been expecting payrolls to grow by 180,000 in August and the unemployment rate to hold steady at 4.3 percent. A broader measure that includes discouraged workers and those holding part-time jobs for economic reasons also was unchanged at 8.6 percent.

In addition to missing estimates, previous months' job totals also were cut. June was revised down from 231,000 to 210,000 while July fell from the initially reported 209,000 to 189,000, the Bureau of Labor Statistics said.

Wage growth also was weak for the month, with average hourly earnings up 0.1 percent for an annualized rate of 2.5 percent. The average work week declined by 0.1 hour to 34.4 hours.

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1 year 2 months ago #118830 by Gambler
Gambler replied the topic: North American economy in retreat
Any guesses on jobs # this morning, about 180,000 consensus. I think a bit higher around 200,000

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1 year 3 months ago #118644 by RonS
RonS replied the topic: North American economy in retreat
Well 209,000 came in a bit on the high side. Did not check birth death rate model though??

www.wsj.com/livecoverage/july-jobs-repor...-employment-analysis

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1 year 3 months ago #118635 by Gambler
Gambler replied the topic: North American economy in retreat
Seems everyone gave up on guessing jobs numbers in US, 183,000 expected to be added, reported today

Seems media does not focus much here, instead it is all about what is wrong with Trump

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1 year 3 months ago #118525 by GoldnBoy
GoldnBoy replied the topic: North American economy in retreat
And retail sales have been lousy

May seen biggest slump in 16 months

www.latimes.com/business/la-fi-retail-sales-20170614-story.html

And June numbers were a 0.2% decline when a gain was expected

www.cnbc.com/2017/07/14/us-retail-sales-june-2017.html

I think the market rally based on recovery from new Trump administration is just hope with reality not likely

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1 year 3 months ago #118522 by RonS
RonS replied the topic: North American economy in retreat
With the overall U.S. auto market expected to decline this year to less than 17 million units, analysts said GM may have too many passenger car nameplates and too many underused assembly plants.

“There could be some consolidation” of passenger car production in fewer U.S. plants, said Jeff Schuster, senior vice president of LMC Automotive. “GM doesn’t need all the sedans it has today. They should look at reducing the number of sedan offerings and replacing some with SUVs or crossovers.”

“I don’t think we have too many” sedans, Alan Batey, president of GM’s North American operations, told Reuters in an interview. Batey added: “We’re in a good place to have a good 2017.”

Despite heavy discounting by some dealers, sales of GM passenger cars plunged 17 percent in the first half and 36 percent in June, far exceeding the industry-wide declines of 12 percent in the first half and 14 percent in June, according to Automotive News.

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1 year 3 months ago #118521 by RonS
RonS replied the topic: North American economy in retreat
In its latest World Economic Outlook, the IMF cut its U.S. GDP forecast for 2017 to 2.1% from its previous outlook of 2.3%, and for 2018 to 2.1% from 2.5%, “primarily reflecting the assumption that fiscal policy will be less expansionary going forward than previously anticipated.” Slowdowns in the U.S. and U.K. are expected to be offset by an improved outlook for growth in most of the euro zone and Japan; China is still seen growing by 6.7% in 2017 and 6.4% in 2018.

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