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Jobs

August 4, 2010 – 4:57 pm

The stock market will be focused on jobs this week and this morning ADP, a private company that reports estimated private sector jobs created on a monthly basis, said that 42,000 jobs were created in July. That was a little more than the 39,000 that where estimated.

The office jobs report from the government will be released on Friday. That report is expected to show a drop in jobs mostly because the census temporary workers are working themselves out of a job.

There are many anecdotal bits of data showing us that employment, while still very weak, is improving. The gains are going to be very tepid but there should be gains. Always, jobs are the last piece of the puzzle for a recovering economy but this time around those jobs are going to be few and far between. Employers are still very reluctant to rehire. Still, in a recent survey half the corporations expected to be at pre recession levels of number of employees within the next two years.

It may not fell like it but we have exited the recession and probably did so at the end of last year.

Good Trading
Steve Peasley

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