Is Employment on the Rise???

By
Mortgage and Lending with Aurora Financial Group
The December Employment Report is expected to show the economy added 126k new jobs to the economy last month, including 140k new private-sector jobs. (Government jobs are expected to be depressed, bringing the headline figure down). Forecasts for the headline figure ranged from 90k to 225k according to 32 economists polled last week by Thomson Reuters. Since Wednesday’s ADP employment report ― which reported 297k private payroll gains in the month ― estimates have jumped upwards. “The surprisingly large increase very likely reflected seasonal adjustment distortions rather than a sudden swing in job market conditions,” said economists at Nomura Global Economics. This morning’s report follows a disappointing November survey in which a net 39k jobs were created, including just 50k private jobs. Some economists believe that figure could see upward revisions, based on better data from jobless claims, November’s ISM employment components, and the last two ADP reports. Economists at BTMU, for instance, wrote: “The November payroll report was very disappointing, showing only +39K jobs were created over the month. But the stock market shrugged it off because other labor market indicators leading up to the report had been positive. We expect November’s job count to get an upward revision.” Looking to December’s report, economists at IHS Global Insight said firms “are becoming more confident in the expansion, and hiring is improving as a result.” “Continuing declines in initial unemployment insurance claims indicate that the very weak November employment report was an aberration,” they wrote. “We expect payroll employment gains to improve to 150,000 in December from just 39,000 in November, and the unemployment rate to edge down to 9.7% from 9.8%.”
Posted by

Carol and Richard DeGrace                               


Vice Presidents


NMLS # 149276, 149277

Aurora Financial Group Licensed Mortgage Banker NJ/PA Dept of Banking


and Insurance NMLS# 7096


Aurora Financial Group

 

9 Eves Drive


Suite 190


Marlton, NJ 08053

Phone: 856.596.6200, Ext 109


Carol cell: 609.209.3800

 

Rich cell: 609.209.3700


Efax: 856.355.4757

 

 

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Rainmaker
570,044
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Richard,  On the morning news they reported much stronger numbers  in many areas.  Hopefully this will continue and start a sustained recovery.   Best of 2011 to you !

January 07, 2011 05:18 PM #1
Rainer
143,700
Victor Zuniga
Berkshire Hathaway Home Services California Properties - San Diego, CA

The latest news I heard is that unemployment fillings are down but that job creation is lagging behind. Also, the method for calculating the unemployment is out dated and has a few flaws in it so the real number is different and I've heard discussion on how some members of the government would like to ratify it to a method that's more accurate.

January 07, 2011 05:26 PM #2
Rainmaker
976,338
Michael J. Perry
RE/MAX Associates of Lancaster, PA. - Lancaster, PA
Lancaster Relo Specialist

One of our Active Rain Bloggers pointed out that the national figures of near 10% might really be 15+% when you calculate in all of the Realtors who have been employed for 60-90 days with NO SETTLEMENTS !!! *L*

January 15, 2011 02:07 PM #3
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Rainer
31,920

Richard DeGrace

NMLS # 149277, Camden County, NJ Loan Officer
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