Adam Hartung
The Bureau of Labor Statistics (BLS) today issued America’s latest
jobs report covering August. And it’s a disappointment. The economy
created an additional 142,000 jobs last month. After six consecutive months over 200,000, most pundits expected the string to continue, including ADP which just yesterday said 204,000 jobs were created in August.
One month variation does not change a trend
Even though the plus-200,000 monthly string was broken (unless
revised upward at a future date,) unemployment did continue to decline
and is now reported at only 6.1%. Jobless claims were just over
300,000; lowest since 2007. Despite the lower than expected August jobs
number, America will create about 2.5 million new jobs in 2014.
And that is great news.
Back in May, 2013 (15 months ago) the Dow was out of its recession doldrums and hitting new highs. I asked readers if Obama could, economically, be the best modern President?
Through discussion of that question, the number one issue raised by
readers was whether the stock market was a good economic barometer for
judging “best.” Many complained that the measure they were watching was
jobs – and that too many people were still looking for work.
To put this week’s jobs report in economic perspective I reached out to Bob Deitrick, CEO of Polaris Financial Partners and author of Bulls, Bears and the Ballot Box (which I profiled in October, 2012
just before the election) for some explanation. Since then Polaris’
investor newsletters have consistently been the best predictor of
economic performance. Better than all the major investment houses. .............
Wednesday, September 10, 2014
Sunday, September 07, 2014
Friday, September 05, 2014
Former Governor of Virginia Bob McDonnell Convicted on 11 Counts of Corruption
NEWSWEEK
A jury today found former Virginia governor Robert J.
McDonnell and his wife Maureen guilty of public corruption. The jury
found that the McDonnells accepted $170,000 in gifts and bribes from
Jonnie Williams, the CEO of a dietary supplement company in exchange for
favors, NBC News reports.
Among the gifts Bob and Maureen McDonnell received from
Williams were clothes worth $20,000 for Maureen, an engraved Rolex watch
for the former governor, and a $15,000 wedding reception for the
couple's daughter. The former governor, a Republican, was also treated
to vacations. It was on one of those vacations that the McDonnells were
photographed behind the wheel of a Ferrari belonging to Williams...................................
Thursday, September 04, 2014
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