Posted by Larry Doyle on July 8th, 2011 8:42 AM |
Our ‘walking pneumonia’ economy is not making any real progress in terms of an improving labor market in the United States.
Consensus estimates for the July employment report (measuring June economic activity) had an increase of 105k jobs with many economists recently revising their estimates higher to 125k.
Their ‘guesstimates’ were not close as the non-farm payroll report released at 8:30am reflected an increase of a mere 18k jobs with downward revisions to the prior two months of 44k jobs.
Were there any hidden gems in the report? Not a one. (more…)