The non-farm payroll report reflected 200,000 jobs were created in December. 212,000 were private sector jobs and that was offset by a loss of 12,000 government jobs. The net result of this is an unemployment rate of 8.5%, down from 8.6% last month.
Everyone understands this does include seasonal hires for the holiday shopping season, right? Would it not stand to reason that when January data is released many of the jobs just created will evaporate? I hope not, but unless some magic dust is sprinkled over the data you would have to think many of these December jobs have already been lost.
So far this week Boeing permanently released 2,160 workers in Kansas and Pepsi has cut 4,000 more across the country. I am sure there are more, but you see the trend here. As I have commented before, JOBS are THE ISSUE for turning our economy around. Scroll down to The Weekly Update 12-2-2011 below for more detail.
We will have to wait and see if in fact this is a real trend. I hope it is! We will wait and see.
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