Sunday 7 September 2008

Key points from the August employment report:

Remember that the unemployment rate peaks at the end of or after the end of a recession.

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1 comment:

Guanyu said...

1. The 84,000 job decline was above expectations.
2. June and July job losses were increased.
3. Government rules. They are still hiring people.
4. Retail jobs declines reflect weakness in auto and housing-related sectors.
5. Weakness continues in the service sector.
6. Temporary service cutbacks have to be carefully watched as the decline is looking recession-like. The numbers were not good.
7. The manufacturing jobs and hours losses confirms our expectation of a decline in manufacturing production for the second quarter.
8. Somewhat better diffusion indexes.
9. Remember that the unemployment rate peaks at the end of or after the end of a recession.
10. No Fed rate hike for a while!!!