December Jobless Rates Hits 5 Percent
Historically, December is a month when manufacturers have shutdowns. Normally, this applies to the automotive industry, assembly plants as well as suppliers, but as of late, more and more manufactures are starting to follow suit. Sales are usually soft at this time of the year, so some companies find it more economical to shut the plant down, or run with a skeleton crew. It is a good time of year to do the maintenance/cleaning that has been put off, add equipment, or inventory materials and stock. While some employers pay the employees, others layoff the workforce. That is just how the month goes. Now take a look at this article. My favorite part was this gem:
The government added 31,000 jobs in December, while private employers actually cut payrolls by 13,000
Compare that article to this one written in November 2007, by the exact same author
In the November 2007 article, we were given this quote:
“This was a very solid report that tells us the economy is hardly falling apart,” Joel Naroff, president of Naroff Economic Advisors, said of the latest employment figures.
And now in January 2008:
“This is a major warning shot that the economy is in trouble,” said economist Joel Naroff, president of Naroff Economic Advisors.
Related stories:
One Economy, Two Spins
Bush Unemployment Rate Bests Clinton Years
Economists React: ‘Looking for a Bunker to Hide in’
H/T to Memeorandum
January 4, 2008 - 06:24 PM on January 4th, 2008
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