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September 2010
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JOBS REPORT MAY BE BETTER THAN YOU THOUGHT

It’s important not to make too much out of a single economic data point. But Friday’s monthly jobs report may be even better news than it seems. The unemployment rate fell to 10 percent in November, and companies only shed 11,000 payroll jobs in the month. That was much better than economists expected, and the smallest such drop since late 2007, and perhaps early indication that, as I’ve argued, we’ll be seing jobs growth sooner rather than later.

A look inside the report – and, again, with the caveat that it would be folly to draw too strong a conclusion from a single month’s data – suggests four other reasons to be optimistic. READ MORE…

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