December 2016

The Uber Low Unemployment Rate Isn't All That it is Cracked Up to Be

The November 2016 unemployment report shows continuing distorted monthly unemployment figures.  The unemployment rate ticked down by -0.3% to 4.6%, a nine year low, but this isn't the great news as many proclaim.  The reason the unemployment rate dropped is yet another almost half a million, 446 thousand more, were considered no longer part of the labor force.

OPEC agrees to cut production back to March levels, oil prices spike 14%

At their meeting in Vienna on Wednesday, the member nations of OPEC agreed to cut their oil production by 4.5% for a period to run 6 months, effective January 1st.  The amount of oil output each member is expected to forgo is generally based on their October production, although for some countries, such as Iran, the baseline for the output cut has been adjusted for special factors.   Libya and Nigeria, whose recent production has been disrupted by civil conflict, will be exempt from the cuts.