06 Jan 2006

Posted at 15:19h in The Friday Brief by
The economy continues to grow, creating new jobs even as companies produce more with fewer workers.  Non-farm payrolls increased by 108,000 in December and the unemployment rate dropped form 5.0% to 4.9%.  While the December growth in jobs was about 100,000 less than expected by economists, the number of jobs created in November was increased by the same amount, as reported by the government.  Manufacturing payrolls increased by 18,000 for the month.  Following sufficient economic growth, the continued high productivity rate no longer stifles hiring.  In other words, despite increased output from workers, companies are still forced to hire new ones to keep pace with demand.

19 Aug 2005

Posted at 14:49h in The Friday Brief by
On most every front, housing, manufacturing, jobs, consumer demand, jobs, and corporate profits, the economy looks strong.  Growth should be sustainable for the foreseeable future, as long as the Fed doesn’t go too far with their rate increases.  Unfortunately, recent inflation data is not sufficiently benign to suggest the Fed may slow their pace any time soon.  On the positive side though, oil prices which topped $67.00 last Friday may have peaked. 

03 Sep 2004

Posted at 16:12h in The Friday Brief by
U.S.employers added 144,000 workers to their payrolls in August.  The increase represented the largest since May and the first increase since March.  The increase follows a revised 73,000 jobs created in July which was more than twice the number originally estimated.  Manufacturing is also showing renewed strength as that sector added 22,000 jobs, 16,000 more than July’s revised rate of increase. 

02 Jan 2004

Posted at 16:28h in The Friday Brief by
Amidst the continuing threats of terror attacks, the War inIraq, the erosion of trust of corporate chieftains and mutual fund managers, the dollar’s continuing decline, and a host of other worries, the S&P 500 index managed the broadest advance in 23 years.  Over 90% of S&P 500 stocks rallied during the year, according to Bloomberg.  The S&P and the Dow Jones Industrials were each up over 28%, including dividends, while the technology and biotech-heavy NASDAQ was up over 50%.