Not All the Economic Data Are Positive
While this morning's September employment report has many investors scratching their heads, me included, the stock market in general and several sectors are likely to take their cue from the drop in the unemployment rate. Yes, people will quibble over the findings of the household survey and how that translates into what some will call a politically well-timed drop in the unemployment rate below 8%, but many will key on the 873,000 people who found jobs during September.
That's a far cry higher than the establishment data that showed 114,000 non-farm jobs added during the month. Digging deeper on the household survey data, we find that 67% of the jobs created were part-time jobs. That along with weak wage growth and an ever-so-modest bump in hours worked during September suggest that consumers are still hurting and that disposable income remains under pressure. ...302 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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