Of course, the “offishul” job report doesn’t come until this time tomorrow. But already, we have two indicators out to consider. The first of which is the Challenger Job Cuts Report. If you’ve been booing president Trump, might want to keep reading…
“CHICAGO, January 4, 2017 – U.S.-based employers announced 32,423 job cuts in the last month of the year, bringing the year-end total to 418,770. That is the lowest annual total since 1990*, when 316,047 cuts were recorded, according to a report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.
“The retail pivot that caused thousands of store closures and job cuts was not seen in any other industry this year,” said John Challenger, Chief Executive Officer of Challenger, Gray & Christmas, Inc. “While companies in the Pharmaceutical, Health Care, Construction, and Food industries did announce more job cuts than last year, it was nothing like the Energy cuts seen in the last two years or the Financial cuts seen during the recession,” added Challenger.
More from the job cuts report:
Employers announced 20.5 percent fewer cuts than the previous year, when 526,915 cuts were announced. Last month saw a 7.4 percent decrease from November’s total of 35,038, and a 3.6 percent decrease from the 33,627 cuts announced in the same month last year. “
Scream all you want about Trump and the so-far, mostly made-up by democrats “Russia probe” the economy is doing just fine.
Backing up the trend is the second job report this morning – this one is the ADP data and it gives some insight into how many jobs were created in the most recent reporting period:
“ROSELAND, N.J. – January 4, 2018 – Private sector employment increased by 250,000 jobs from November to December according to the December ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.
If Ure addicted to drill-downs, try this:
There will be a quiz on this data after lunch.
Tomorrow’s Labor Department report does have one implied problem: Not a big one, but something to think about: When the jobs picture gets too bright, it can rather quickly turn into an inflation problem.
Not says it’s entirely the case, but do look at the price of gold which has quietly crawled back from the dead and is over $1,300 per ounce. Silver has a Lazarus act, too, peeking over $17 per ounce.
Neither of these is a humongous deal – yet. And as long as the average starting wage is moving up toward the $15 per hour mark, we don’t think it is a bad thing. But again, how long before rising labor costs will catch-up with the Quarter Pounder prices? (Notice we didn’t go for the cheap pun ketchup with the hamburger prices? That is pun-restraint at its finest!)
All of which is one of the supporting reasons why we are still expecting the market to continue its advance for a while longer toward the next target we laid out in Peoplenomics Wednesday.
If you’re serious about finance, this is for-sure one of those “Let the good times roll…” periods.
Now, if someone would just keep Medicare from eating up all the annual Social Security adjustments, that would be nice.
Don’t Take the News Too Seriously
Because sometimes there’s humor when you look.
As caught our eye this morning when we spied this on the RSS feed summary that runs 24/7 on our www.computationalfuture.com news-scanner website:
One supposes it’s better to have the Fox following the deer tracks than the Wolf…
We now return you to the truly depressing crap…
Climate Change! Warming!!!
Everyone! Run from the street!!! Women and Children First!
Really? Yesterday while chipping away at the assorted intractable computer problems I was half-listening to a few Morse code ham operators up and down the eastern seaboard. They kept referring to the current cool spell as “The Clipper…” Was there a Packard car meet-up? Hmmm…why were they going on about temperatures, so much?
Apparently, the early editions of the NY Times weren’t out yet. Because their marketing-gone-mad-to-whip ’em-up is?
We’re waiting for some snowcaster in California, Colorado, or Washington, to misread it as a “Snow Bong” and this will be followed, almost certainly by attaching a gender to the storms and with “Storm Dolls” sure to follow. After that, we forecast a new industry called “Storm Cookware” suitable for the worst of Blizzards. (Excluding those from the DQ.)
Meanwhile, we acknowledge CBS for a bit more factualizing: Massive winter storm roars into Northeast after dropping rare snow on South — live updates. Maybe they need to hire some hypesters…
We are all crazy, I’m afraid. Need more proof?
Speaking of Computers
Huge advocate Linux, are you? Try this one: How to protect your PC against the major ‘Meltdown’ CPU security flaw. Equal Opportunity bugs in Intel processors…
After which I got: “Status: Detection Error: This system may be vulnerable, either the Intel(R) MEI/TXEI driver is not installed (available from your system manufacturer) or the system manufacturer does not permit access to the ME/TXE from the host driver.
Oh crap… ‘nother one for the to-do list.
Social Disease Emerging
Every generation has its own take on what a “social disease” is.
For us oldsters, it was getting the syph or the clap…so much for the free love of the 60’s & 70’s, huh? Later, it was AIDS/HIV… and then gender identification…which, when you think about it, figured in the previous cites.
Now guess what? We have a real gem on the horizon: Schools ‘should help children with social media risk’.
Yep…seems lil children may need some kind of “readiness” to engage in the sickly perverted time-waster called social media…a psycho-social disease.
At the risk of being harsh? Take the “devices” away from the little darlings, slap em on the butt when they sass,l and hand them books. Maybe they can learn to read… But, oh, that meany on the website is bullying again. FMTT.
Bitcoin on the Brink
Still waiting for the wave count to sort out: Over $19,500 we start believing the touts proposing $35,000. Below $11,000 and the fraidy-cats rumoring $2000 begin to make sense.
Creds, Creds, Who’s Got ‘Em?
Whether you like Trump, or not, the real question is who do you believe? The Steve Bannon dude, or president Warbucks? (I tend to follow the money as it was a good strategy with the Clintons, but that’s not the point.)
What is? Stories like this in the Washington Post: