Clarksville, TN – One of the fun experiences I have is researching odd facts on the Internet. I recently looked at some statistics on the “top 10 jobs in America.” Here are a few bits of information I learned:
Lists vary on the top two jobs. Some say Surgeon and others say Anesthesiologist. Salaries for each range from roughly $175,000 to $185,000 on average. (Note: This means that some of these people make much more and some make much less.) At least one list stated that Investment Bankers were second. The most common list of the top 10 highest paying jobs follows. «Read the rest of this article»
Clarksville, TN – As expected, Greece’s election resulted in a turn to the left. The new leadership indicated that it intends to remain in the euro, but will seek a reduction in austerity and some restructuring of the country’s debt.
That sets up a conflict with other European countries that oppose such moves. This will likely take some time to resolve, with headlines expected to add to global financial market volatility in the weeks to come. Meanwhile, euro area inflation fell to -0.6% y/y.
Real GDP rose at a 2.6% annual rate in the advance estimate for 4Q14 (vs. a median forecast of +3.1%), but it was still a good report. As expected, it was a strong quarter for consumer spending (+4.3%), but a relatively soft quarter for business fixed investment (+1.9%).
Montgomery County Centers Help Thousands
Nashville, TN – Goodwill Industries of Middle Tennessee far exceeded its mission goals for 2014, providing free employment services and job training to 28,159 people — including thousands from the Montgomery County area — and helping 9,558 land jobs, the not-for-profit agency announced Tuesday.
Goodwill’s goals for last year were to assist 20,000 people and to place 6,000 in jobs. Those benchmarks were met in September. The organization, which serves 48 Tennessee counties, hopes to assist 30,000 people and place 10,000 in jobs in 2015. «Read the rest of this article»
Clarksville, TN – The December Employment Report was a mixed bag. Nonfarm payrolls rose a disappointing 74,000 (median forecast: +195,000, although market participants were anticipating an upside surprise following a stronger-than-expected ADP estimate).
The November payroll figure was revised to +241,000 (from +203,000). Manufacturing rose by 9,000. Construction fell by 16,000, with weakness concentrated in nonresidential and in heavy construction and civil engineering (residential rose 6,200).
Clarksville, TN – Fear of Fed tapering hung over the stock market. Market participants believed that the November Employment Report would be the deciding factor for whether the Fed will begin to reduce the pace of asset purchases this month.
The jobs report was stronger than anticipated, but not as bad as feared. Payrolls rose by 203,000, a bit more than expected (median forecast: +180,000), with a mild net revision of +8,000 to the two previous months. Job gains were relatively broad-based.
Clarksville, TN – Next week, the ISM Manufacturing Index should set the tone for the week, but the markets will put a lot of weight on the November jobs data.
Recall that the government shutdown did not have a noticeable impact on the October nonfarm payroll figures (which were stronger than anticipated), but did alter the household survey data (the unemployment rate and the employment/population ratio).
Clarksville, TN – In her nomination hearing before the Senate Banking Committee, Janet Yellen took a balanced approach in discussing how she would conduct monetary policy, but the markets took that as “dovish.”
She gave no hint that the pace of asset purchases would be tapered anytime soon, but she also cautioned that the program could not last indefinitely. She noted that the economy is far from fully recovered and indicated that “we have farther to go” in the labor market.
Clarksville, TN – The economic data surprised. Real GDP rose at a stronger-than-expected 2.8% annual rate in the advance estimate for 3Q13, but the figure was boosted by faster growth in inventories (which added 0.8 percentage point to GDP growth).
Consumer spending rose at a 1.5% annual rate, while business fixed investment rose 1.6% – nothing to write home about. The partial government shutdown had a mixed impact on the October employment figures.
Nonfarm payrolls rose by 204,000 (median forecast: +125,000), while August and September figures were revised a net +60,000.
Clarksville, TN – The economic data were mixed, but mostly on the strong side of expectations. The ISM’s two monthly surveys surprised to the upside. Motor vehicle sales advanced
However, the August Employment Report disappointed. Nonfarm payrolls rose by 169,000 (vs. a median forecast of +180,000 and expectations of an upside surprise). Figures for June and July were revised a net 74,000 lower (July went from +162,000 to +104,000).
Manufacturing rose by 6,000. Construction was flat. Retail added 44,000. The unemployment rate fell to 7.3%, but that was due to lower labor force participation (the lowest since May 1978).
Clarksville, TN – The economic data were consistent with a slowing in the rate of overall growth in July.
The estimate of second quarter growth was revised higher (to a 2.5% annual rate, vs. +1.7% in the advance estimate), but that was almost entirely due to a smaller-than-expected trade deficit (the estimate of consumer spending growth was the same and the estimate of business fixed investment was only slightly different).
Personal income and spending figures showed a poor start for the consumer in 3Q13. Durable goods orders tanked in July, reflecting a drop in aircraft orders (which were strong in May and June). However, ex-transportation orders still disappointed.
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