Weekly Note — Full Employment in the US

Good Morning,

The US labour market looks set to end 2017 on a high note, with payroll employment up 228,000 and private-sector hours worked up 0.5% in November. Part of the strength is due to residual hurricane bounce back effects, but even if we look at the past 3-4 months, the payroll trend remains in the same 150-200k range that has prevailed all year. Admittedly, this is 50,000 below the breakneck pace of 2014-2016, but it remains well-above the rough 100,000 estimate of the breakeven rate.

Download a FULL PDF version of the Weekly Note:

GM360 Note – 19th December 2017

Disclaimer

The statements, opinions and analyses presented in the articles, newsletters, and other materials appearing on this website are provided as general information and for educational purposes. Opinions, estimates and probabilities expressed herein constitute the judgment of the author as of the date indicated and are subject to change without notice. Nothing contained in this website is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision. Prior to making any investment decision, you are advised to consult with your broker, investment advisor or other appropriate tax or financial professional to determine the suitability of any investment. David McWilliams shall not be responsible or have any liability for investment decisions based upon, or the results obtained from, the information provided.



Categories: Daily Note