North American economy in retreat

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5 months 3 weeks ago #124032 by WealthyPlumber
WealthyPlumber replied the topic: North American economy in retreat
Wow strong report

The US added 266,000 new jobs in November boosted by the return to work of striking auto workers.

Economists had expected job growth to 187,000 in November, up from 128,000 in October and boosted by the return to work of 48,000 GM workers following a 40-day strike.

Manufacturing employment rose by 54,000 in November, following a decline of 43,000 in the prior month. Healthcare added 45,000 jobs.

www.theguardian.com/business/live/2019/d...ariffs-business-live

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5 months 3 weeks ago #124029 by lynnsa10
lynnsa10 replied the topic: North American economy in retreat
GB, that is the wrong report, latest jobs # out today. I am guessing 200k

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5 months 4 weeks ago #124024 by GoldnBoy
GoldnBoy replied the topic: North American economy in retreat
Wow, pretty good number

Employers added 312,000 jobs to the US economy in December — nearly double the 178,000 new positions economists had expected, according to the latest jobs report from the Bureau of Labor Statistics.

And gold moved higher on the news

www.vox.com/policy-and-politics/2019/1/4...s-report-312000-jobs

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5 months 4 weeks ago #124021 by Gambler
Gambler replied the topic: North American economy in retreat
any guesses on jobs #, estimates at 185k I go with 17ok

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7 months 1 day ago #123795 by Gambler
Gambler replied the topic: North American economy in retreat
Numbers were better than expected, probably to make the Fed pause decision look good lol

U.S. hiring was surprisingly solid last month as employers added 128,000 jobs despite a General Motors strike that held down overall payrolls and the loss of 20,000 temporary census workers, easing recession concerns.

The unemployment rate rose from a 50-year low of 3.5% to 3.6%, the Labor Department said Friday.

Economists surveyed by Bloomberg expected 85,000 job gains.

Even more encouraging: Job gains for August and September were revised up by 95,000. August’s additions were bumped from 168,000 to 219,000 and September’s from 136,000 180,000.

The six-week GM strike was expected to reduce employment by the company’s 46,000 idled workers, as well as about 9,000 employees at auto suppliers indirectly affected, according to Morgan Stanley. That’s a blip that’s likely to boost November payrolls since striking workers will be back on the job, the research firm said

Other transitory crosscurrents, however, also could have distorted the figures. October rebounds in employment after hurricanes in 2017 and 2018 may have skewed Labor’s seasonal adjustment of the raw numbers, further tempering the job gains, Goldman Sachs said.

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7 months 1 day ago #123794 by GoldnBoy
GoldnBoy replied the topic: North American economy in retreat
Economists expect Friday’s U.S. payrolls report will show job growth slumped to a five-month low in October, though it may be trickier than usual to sort out the true underlying trend.

The data will likely reflect the impact of 46,000 striking General Motors Co. workers, as well as related effects from any idling at the company’s suppliers and contractors.

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8 months 17 hours ago #123624 by RonS
RonS replied the topic: North American economy in retreat
another bad data point for US economy

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8 months 3 weeks ago #123502 by GoldnBoy
GoldnBoy replied the topic: North American economy in retreat
Job numbers pretty weak today at 130k

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8 months 4 weeks ago #123486 by RonS
RonS replied the topic: North American economy in retreat
This guy explains the current market risk very well and easy to understand

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8 months 4 weeks ago #123484 by alexgreat
alexgreat replied the topic: North American economy in retreat
Lynnsa pulled this chart from your link.. Export orders are crashing to 2007 levels
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8 months 4 weeks ago #123483 by lynnsa10
lynnsa10 replied the topic: North American economy in retreat
The Institute for Supply Management’s purchasing managers index fell to 49.1 in August, weaker than all forecasts in a Bloomberg survey of economists, data released Tuesday showed. Figures below 50 indicate the manufacturing economy is generally shrinking. The group’s gauge of new orders dropped to a more than seven-year low, while the production index hit the lowest since late 2015.

www.bloomberg.com/news/articles/2019-09-...-time-in-three-years

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10 months 4 days ago #123233 by alexgreat
alexgreat replied the topic: North American economy in retreat
Interest read by Mike Hudson, here is a tidbit

Fast forward to today: Indebted students graduate with an obligation to pay so much education debt that they cannot qualify for mortgages to buy homes of their own. Marriage rates are down, U.S. home ownership is plunging, and rents are rising. Automobile debt also has soared, leading to rising default rates second only to student debt defaults. The overhang of junk-mortgage debts that crashed the economy in 2008 remains on the books of families who managed to survive the ten million foreclosures under the Obama bailout of Wall Street. (His constituency turned out to be his Donor Class, not the junk-mortgage victims among his voters. He characterized them as “the mob with pitchforks” to the banksters he invited to the White House to celebrate his bailout.)

By driving down interest rates, the Fed’s policy of Quantitative Easing has subsidized an enormous debt buildup without increasing the interest burden proportionally. This has enabled corporations to carry much higher debt and even indulge in leveraged buyouts and stock buyback programs.

www.nakedcapitalism.com/2019/07/michael-...ings-writedowns.html

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