Jobs Data Keep Economic Optimists Smiling
Payrolls outside agriculture rose by 132,000 jobs last month, and revisions added 42,000 jobs to previous payroll estimates for September and October, so monthly gains in the past three months have remained near this year's average of 149,000. The unemployment rate edged up slightly to 4.5% in November from 4.4%. Unrounded, the increase was even smaller: from 4.42% to 4.47%.
Layoffs in construction and manufacturing -- in particular, the auto industry -- were more than offset by gains in business services, health care and tourism, the Labor Department said.
This just confirms what the Fed's been thinking," said Drew Matus, senior economist at Lehman Brothers in New York. "The economy is currently experiencing weakness in two specific sectors, and the weakness hasn't spread."</P>
<P class=times>Mr. Matus expects the current slowdown, with economic growth of an annualized 2% to 3%, slightly below its normal range, to continue well into next year, as the housing and auto sectors slowly recoverMeanwhile, the University of Michigan's survey of consumer sentiment declined slightly to 90.2 in early December from 92.1 in November. Assessments of current conditions improved, but the outlook for the economy down the road worsened. Economists said they still expect consumers to keep spending enough to keep the economy expanding, particularly if the labor market continues to lift incomes.
[ 本帖最后由 Trend 于 2007-1-10 18:37 编辑 ] |