Posts Tagged ‘optimism

07
Jul
11

but where are the jobs?

Reuters: U.S. private employers added far more jobs than expected in June, bouncing back from a surprise slump the month before, a report by payrolls processor ADP showed on Thursday.

The private sector added 157,000 jobs last month, exceeding expectations for a gain of 68,000, according to a Reuters survey of economists.

…. U.S. stock index futures added to gains following the report, while the dollar gained more ground against the yen.

Friday’s jobs report is expected to show a modest rise in overall nonfarm payrolls of 90,000 for last month and a gain in private payrolls of 110,000….

On Wednesday, a stable employment reading from the Institute for Supply Management’s service sector survey suggested employment growth later in the year….. More here

Bloomberg: U.S. stock-index futures extended gains after an industry report showed companies added more jobs than forecast in June, bolstering confidence in the economic recovery…. More here

*****

Bloomberg: U.S. initial jobless claims fell for the first time in three weeks, a sign the labor market is making a little headway.

Jobless claims fell by 14,000 to 418,000 in the week ended July 2, Labor Department figures showed today in Washington. The median forecast of economists in a Bloomberg News survey called for a drop to 420,000. The number of people on unemployment benefit rolls and those getting extended payments also declined.

06
Jul
11

looking up

15
Jun
11

positive signs

AP: Americans are finally getting some relief from high gas and food prices.

Wholesale food prices fell last month by the most in nearly a year, and gas prices keep dropping after peaking in May. A separate survey suggests CEOs are feeling more optimistic and will hire more in the second half of this year. It amounted to welcome news after a rough patch that has stoked worries the economic recovery is slowing…

Food prices at the wholesale level fell 1.4 percent, the Labor Department said. It was the largest drop since last June….

…Gas prices at the wholesale level rose in May by the smallest amount in eight months. At the pump, they’re coming down. On Tuesday, the national average was $3.70 a gallon, according to AAA. Gas has fallen steadily since the national average almost hit $4 a gallon in early May….

…There were some encouraging signs that hiring could pick up in the second half of the year. The Business Roundtable, which represents CEOs for the 200 biggest U.S. companies, said 51 percent of chief executives plan to step up hiring in the second half of the year.

Last quarter, the figure was 52 percent said they planned to hire more over the following six months, the highest since the trade group began polling its members in 2002.

…ManpowerGroup, one of the nation’s largest staffing companies, said the proportion of businesses that plan to hire in the next three months is higher than at any time since the end of 2008, during the recession.

Full article here

Thank you Dotser – as she put it, “I see there must have been infiltrators at the AP who allowed a positive economic story to get through the conservative guards there” ;-)

10
Jun
11

not that we should trust economists, but…..

Bloomberg: Slowdowns in consumer spending and employment will prove temporary, giving way to a U.S. growth rebound in the second half of 2011, economists surveyed by Bloomberg News said.

After growing at a 2.3 percent annual pace this quarter, the world’s largest economy will expand at a 3.2 percent rate from July through December, according to the median forecast of 67 economists polled from June 1 to June 8.

Rising exports, stable fuel prices, record levels of cash in company coffers and easier lending rules will be enough to overcome the damage done by one-time events like poor weather and the disaster in Japan….

“The economic headwinds are well known, but if you look at the tailwinds, they are still pretty strong,” said Nariman Behravesh, chief economist at IHS Inc. “There are a lot of reasons to be fairly upbeat about the recovery. Growth will pick up in the second half.”

….Increasing overseas demand is another reason for optimism ….. Exports climbed to a record in April, Commerce Department figures showed yesterday….

More here




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