Private nonfarm payrolls rose 140,000 last month, the Labor Department reports. That’s ok and it’s certainly far enough above zero to keep chatter about an imminent recession at bay. But today’s number is a bit of a disappointment after ADP’s strong report on Wednesday, which implied that the government’s estimate of employment growth would be much higher. Still, beggars can’t be choosy and a net gain of 140,000 private sector jobs is respectable given all the headwinds from Europe these days.
Daily Archives: December 2, 2011
Will Manufacturing’s November Revival Last?
Yesterday’s update on the ISM Manufacturing Index offers another encouraging data point that builds on the acceleration in jobs creation via ADP’s November employment report. If it wasn’t for ongoing euro crisis and the potential for instability in the budget negotiations in Washington, optimism would be a no-brainer. But we live in interesting times, and so expectations must be managed carefully.