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Friday's Business News Update

In today's update we've got snippets about job creation in January (very weak) and growth in total incomes and salaries (very strong).

Click the below link if you'd like to read more.

Job Growth

Job growth in January was very weak:

-- The economy created the paltry net sum total of 37,000 jobs. That includes net changes in 1099 contractor jobs, self-employment and in per diem jobs.

-- Established employers in January, however, shed the net sum total of 17,000 payroll jobs. Goverment payroll employment declined by 18,000 net jobs, meaning established private-sector employers merely added the net sum total of 1,000 W-2 jobs.

* * *
Income and Salary Growth

Total incomes and total wages and salaries not only have continued to outpace total consumer inflation, they've outpaced inflation by wide margins:

5.8% - growth in total incomes, 12/06 - 12/07
4.8% - growth in total wages and salaries, 12/06 - 12/07

4.1% - total consumer inflation, 12/06 - 12/07

For obvious reasons the chances the media will report those numbers to the general public are zero.point.zero.


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Comments (1)

Are we in Hooverville yet?<... (Below threshold)
John F Not Kerry:

Are we in Hooverville yet?




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