Financial Review

Exasperating November Jobs Report


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…..Economy adds 178,000 jobs in November. Unemployment rate drops to 4.6%. Financial Review by Sinclair Noe for 12-02-2016 DOW – 21 = 19,170 SPX + 0.87 = 2191 NAS + 4 = 5255 RUT + 0.45 = 1314 10 Y – .05 = 2.39% OIL + .68 = 52.64 GOLD + 5.50 = 1178.10   The economy added 178,000 net new jobs in November. This was right in line with estimates around 175-180,000. The unemployment rate dropped to from 4.9% to 4.6%, a 9-year low. The September report was revised higher to 208,000 and October was revised lower to 142,000, for a net revision of 2,000 lower. Over the past 3 months, the economy has gained on average, 176,000 new jobs per month.   Private-sector payrolls rose by 156,000 in November. Government employment rose by 22,000 in the month. Employment in professional and business services rose by 63,000 in November and has risen by 571,000 over the year. Over the month, accounting and bookkeeping services added 18,000 jobs. Employment continued to trend up in administrative and support services (+36,000), computer systems design and related services (+5,000), and management and technical consulting services (+4,000).   Health care employment rose by 28,000 in November. Within the industry, employment growth occurred in ambulatory health care services (+22,000). Over the past 12 months, health care has added 407,000 jobs.   Employment in construction continued on its recent upward trend in November (+19,000), with a gain in residential specialty trade contractors (+15,000). Over the past ...
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Financial ReviewBy Sinclair Noe