Marketwatch details:
Employment in the U.S. private sector fell by 39,000 in September, the first drop since January, according to the ADP employment report released Wednesday. The drop surprised economists who had on average anticipated a 20,000 increase. U.S. stock futures pointed to a flat start on Wall Street after the report’s release. The ADP report suggests September nonfarm payrolls may shrink by more than the 8,000 anticipated by economists ahead of the report.Below is the rolling three month change in goods producing and service providing jobs. As can be seen the rebound in service providing jobs is stalling and the decline in goods-producing jobs may be re-accelerating.
Source: ADP
From your graph, it appears that the rolling three-month change in goods-producing jobs never did quite become positive.
ReplyDeleteSo one might suggest changing "the rebound in goods producing jobs is stalling" to "the decline in goods-producing jobs may be re-accelerating."
And the rebound in service jobs may be stalling.....
done...
ReplyDeleteCombine this with the news of the foreclosure mess and the fraud in that, and I can't help but wonder if we are about to step into another major downturn.
ReplyDeleteLook at ExactPrice right now shows the spot price of silver and gold at $23.17 and $1,349 an ounce. I am thinking other investors are feeling the same way.