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The Wheels Are Coming Off China’s Economy: Gordon Chang

Australian Employment Up in September Underlying Trends Look Soft

The Australian economy added a seasonally adjusted 20,400 jobs in Septemeber according to a report released by the abs today. That was a little better than expectations of an increase of 10,000, the Australian economy needs to add around 15,000 jobs per month just to keep up with labour force growth.

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Job Ads Continue to Point to Slowdown in Australian Labour Market

Today’s ANZ job advertisement report for September continued to show a softening in the number of job ads across Australia. Total job ads declined 2.1% from the prior month and represent the 5th month on month decrease in the last 6 months.

Job ads and employment have a relatively high correlation of [...]

Some interesting food for thought for the China Bulls. It seems that the local government financing vehices used to help local governments hit their pre-determined growth rates can’t pay their debts. Who would have thought? From marketwatch.com:

StanChart warns on China’s local-government debt Bank’s China chief: Up to 80% won’t be able to cover [...]

A Look at Unemployment Duration

I saw a chart similar to the one above on a well known blog site lamenting the trend in the average duration of unemployment. In the latest report from the bls out this past Friday, the average duration of unemployment hit a new all time high of 37.1 weeks. Whilst I don’t want [...]

January Employment Report – A Tale of Two Surveys…..Again

How do you describe the January employment report? Messy, inconsistent, contradictory, all of the above? Non-farm payrolls rose a lackluster 36,000 in January according to the the BLS, also the benchmark annual revision wiped 483,000 jobs from 2010 payrolls. After the benchmark revision, it turns out 6 months of 2010 had negative payroll [...]

December Employment Report – A Tale of Two Surveys

Non-farm payrolls rose a seasonally adjusted 103,000 in December according to the bls, well below market expectations of a rise of approximately 175k. However, if you add in the revisions to prior months, an upward revision of 38k for October and 32k November, the overall level of employment was close to expectations.

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December ADP Report Strongest on Record

The December ADP report showed the best job growth in the history of the series which dates back to December 2000. ADP estimates 297,000 private payroll jobs were added in December up from a revised 92,000 in November. The ADP report and the non-farm payroll report can at times differ significantly but there [...]

June Employment Report Disappoints

For an accurate read on the June non-farm payroll report, you need look behind the headline numbers. The establishment survey showed that non-farm payrolls fell -125,000 in June however we need to exclude 225,000 census workers that dropped off the rolls and thus we have non-farm payroll growth of 100,000. If you want [...]

The Non-weather Affected Jobs Report

Non-farm payrolls fell a seasonally adjusted -36,000 in February according the BLS. January nfp’s were revised from -20k to -26k whilst December was revised from -150k to -109k. Details of job losses and gains are detailed below.

Notably there was no net hiring by government agencies which had been touted because [...]