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A Need for More

January 4, 2013 – 6:12 pm

job_searchThis morning’s monthly jobs report was unimpressive as we produced 155,000 new jobs for December. That left the unemployment rate at 7.8%. The rate would normally be higher than that but many people have dropped out of the job market and our government does not count those people.

No matter how you spin it this is not a good jobs report. We have been averaging 155,000 for months and that does not begin to put the unemployed back to work. It barely provides enough jobs for new workers entering the work force.

Maybe we will see a pickup in the months ahead as housing slowly improves and the energy sector continues to flourish. There is no unemployment in those states allowing shale oil and gas extraction. Energy could be a big driver of jobs if the Federal government would get behind the effort.

The good part is that we are still expanding the economy and that will produce jobs. We just need more!

Good Trading
Steve Peasley

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