This is the report everyone has been waiting for, because we know any economic recovery is based on jobs. And because we all hoped that the December report was just a blip, a mistake that could be blamed on colder weather, holidays, really on anything.
Sadly, it is not the case and this months’ report confirms that there is a slowdown here. Only 113,000 jobs were added last month, way below the average monthly gain of 194,000 a year ago. They have been down 50,000 for the past 3 months. While there has been good news in some areas, the jobs news really trumps all other statistics. Different industries were looked at here in terms of growth, with some reporting good news and bad for others. Is this all a factor of what is happening in the rest of the world? It could be and probably is a part of this but that doesn’t explain the entire story. I think this is due to many factors, the most important of which is the uncertainty in the world right now. Everywhere it seems things are starting to be the same.
A few days ago it looked like we were still growing, things looked bright, now it seems like the same thing is happening in China, Europe and here. High unemployment, falling wages and jobs, and plenty of Gov’t. stimulus type of efforts. If you really think about it and get caught up in everything it would be very tough to get up every day! I think we all have to keep it in perspective, life is an ebb and flow, it goes up and goes down like the stock market. You can’t get too excited when it goes up or down. We all have to do our own part every day the best we can and the small differences we make as individuals adds up collectively.
US employers add 113K jobs; rate dips to 6.6 pct.
Orin Rosenfeld
President
Rosenfeld Realty Advisors
9858 Glades Rd. Suite 209
Boca Raton, FL 33434
Phone: 561-756-1665
Fax: 561-470-0707
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