Friday, December 2, 2011

8.6 Pct Unemployment... Not ecstatic, but happy(er)

We had a BIG and possitive move in the US Stock market this week. This Friday, the unemployment rate dropped to an amazing 8.6%. Wow!.. (See: http://www.nytimes.com/2011/12/03/business/economy/us-adds-120000-jobs-unemployment-drops-to-8-6.html?partner=rss&emc=rss)
It turns out not to be as good as it seems, though. Much of that gain comes from a reduction in the rate of participation. The percentage of the population that participate in the labor market dropped from 64.2% to 64%. The number of jobs created of 120,000 wasn't so great, and the number of people filing for unemployement wasn't so great. There were positive revisions to prior months numbers (as more and better information comes in to the government).
BUT all signs point toward improvement. So let's no complain.
The price of gas based on $100+ per barrel might start to be painful soon though.
Aiming for the blessings of Christmas, and full(er) employmentsmile