The BLS employment report shows a 7.8% unemployment rate for December. November was revised up from a 7.7% to 7.8% unemployment rate, but due to a change in the BLS annual seasonal adjustment revisions. This article overviews the statistics from the Current Population Survey of the employment report and the words to describe December are little change.
ADP's proprietary private payrolls jobs report shows a gained of 215,000 private sector jobs for December 2012. The effects of superstorm Sandy resulted in a monthly 39,000 construction jobs boom. Last month Sandy caused an estimated 86,000 jobs to be lost even though ADP's November payrolls were revised up by 30,000 to 148,000.
The December 2012 ISM Manufacturing Survey shows PMI increased by 1.2 percentage points to 50.7% and is now in expansion from contraction. This is the 3rd time in seven months manufacturing PMI has been in expansion. Overall the report is a bounce from last month's lows.
Past the final hour the House finally passed a bill to avert the fiscal cliff. The Senate had passed the legislation in the wee hours of New Years Day and after much brew ha-ha the House allowed an up and down vote on the Senate bill. We have listened to months and months of squabbling, bringing the economy to the brink over a very simple final result that could have been passed months ago.
Past the final hour the House finally passed a bill to avert the
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