Jan
13

Dismal Data

Last Friday’s labor report showing a gain of 74,000 new jobs, when 200,000 were expected, and a decline in the labor force participation from 63% to 62.8% (a 35 year low) was, no matter how you slice it, bad. That said, one month isn’t a trend and rising exports, the continued expansion in manufacturing and good GDP growth means the number will be revised at least somewhat higher next month.

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