Job creation rolls on, today’s ADP Employment Report advises. The preliminary update for November shows a net gain of 206,000 private sector jobs on a seasonally adjusted basis. That’s the highest monthly advance for this series since December 2010. If there’s a recession brewing in the U.S., it’s not obvious in these numbers.
Daily Archives: November 30, 2011
Stressed Out & Up
To say that the global economy is stressed is to state the obvious these days. The potential for implosion in one of the world’s major currencies is no trivial development. The great mystery is whether the rising stress on the system will unleash a new recession. That looks like a done deal in Europe by some accounts, although there’s still a lively debate about where the U.S. economy is headed. This much, however, is clear: the financial system is under pressure and so the threat of an economic contraction in the U.S. is higher these days. But tipping points are only obvious in hindsight, particularly during delicate periods such as the one currently blowing through the global economy.