Finally an actual good report.


Wages rose, strong job growth in restaurants and finally signs of life in construction jobs.....restaurants and construction will be the way to get people back to work quickly.





January is when they make their once a year adjustment to job numbers for the previous year, revise their population numbers and tweak their seasonal adjustment formulas. This may have been what you heard.


Changes to The Employment Situation Data |

| |

|Establishment survey data have been revised as a result of the |

|annual benchmarking process and the updating of seasonal |

|adjustment factors. Also, household survey data for January 2012 |

|reflect updated population estimates. See the notes at the end of|

|the news release for more information about these changes.

I'm pleasantly surprised. I know a few companies that chose January as their "cleaning house" season. Good to know it's not more widespread.

 

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Yeah I didn't dig on that either and need to. However, it seemed to be more about changes that create retroactive adjustments going back three months, not so much about forward projection methods.

 

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We laid 3 people off in January, first time I have seen layoffs since I started with this company.

To be fair, they were shitty employees who needed to be let go, but still, it was kind of saddening to see it.

 

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This is good news. When December showed signs of hope the major fear was that it was temporary and wouldn't last. The numbers that come out over the next two months will be important in determining how companies are reacting to December. When the economy started to falter again (months ago) there was a lot of fear of a double dip but there was also historical precedent for recoveries to hit a bump in the road. Since then it has been a matter of waiting for signs either way.


At this point I think that there is a lot of reason to believe the recovery is back on and the trend down was just a bump and not a dip. I still think it will continue to be a relatively slow recovery. Federal Spending is likely to go down, taxes are likely to go up, income for the 1% may not be growing as strong as it usually does in a recovery, the crisis in Europe, etc.

 

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I spend an hour and a half every day on the road driving to and from work.

There are a LOT more semis on the road recently.

I believe good things are starting to happen.

 

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Congress and the Fed definately have the ability to derail things. Fighting deficits and taking steps to nip price increases in the bud with tighter money will take the wind out of our sails....and both of those are the #1 goal for many decision makers. A few good months of job gains might give them the cover they need to slow things down.

i don't think BT is capable of processing positive information unless it's about the price of gold or Ron Paul newsletters.

 

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The Bush Jobs Recovery

 

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