The December U.S. Employment Report provided a sign that the U.S. labor market, economy and the basic relationship between work and the individual has now reached tipping point. Women now outnumber men in the workforce by 50.04% to 49.96%. … READ MORE >
Economics
Canada added 35,200 jobs in December, exceeding estimates
The Canadian economy added 35,200 jobs in December, significantly greater than the 25,000 expected by economists. This partially offsets the 71,000 job losses in November’s Statistics Canada labor market survey. The unemployment rate fell by 0.3 percentage points to reach 5.6%, near the historic low of 5.5% last recorded in October of last year. … READ MORE >
U.S. added 145,000 jobs in December as women now outnumber men in the workforce
Hiring in the economy closed out the year with a gain of 145,000 jobs in December, making for a overall increase of 2.1 million in 2019, the Labor Department reported on Friday. That figure represents a modest decline compared to a gain of 2.7 million in 2018 and is down from the cyclical high of a little more than 3 million jobs added in 2014. … READ MORE >
Jobs report preview: Expect a cooler December
We expect a net gain of 145,000 in December hiring with downside risk linked to late-year seasonal adjustments and a slower pace of hiring. This slower pace is implied by the hiring data within the ISM Service Sector report and an accelerating pace of contraction within the ISM Manufacturing survey. … READ MORE >
RSM Brexit Stress Index remains subdued
Stress in the British financial markets has remained subdued over the four weeks since the general election. The RSM Brexit Stress Index, which measures financial and economic risk surrounding Britain’s impending departure from the European Union, started the new year at an insignificant 0.03 standard deviations above normal levels of implied stress, just slightly higher than last week’s 0.02 standard deviations below normal levels of stress. … READ MORE >
ISM Manufacturing report puts a dent in prospect of global re-acceleration
A narrative began to emerge among investors and policymakers in the last quarter of 2019 that a global economic re-acceleration was at hand, thanks to an expected rebound in manufacturing. But the December ISM Manufacturing report, released on Friday, coupled with the fallout from rising tensions in the Middle East, have put a significant dent in that thesis. The result will most likely be a reduced appetite for risk and lower global asset prices in the coming days. … READ MORE >
Increased shale production partially insulates American economy from Iran conflict
The reaction to the killing of Iranian Major General Qassim Suleimani, the commander of Iran’s Revolutionary Guards Corps, across oil, energy and financial markets has been muted. For now, investors are focused on the supply component of the global oil equation. … READ MORE >
As American farmers struggle, lenders become advisers
As painful as this year has been for American farmers, it is also forcing a reckoning among lenders and should prompt a rethinking of their role, one that goes beyond primarily being a source of financing, and instead becoming more as a trusted adviser. … READ MORE >
Housing to start 2020 with a bang
November housing starts rose by 3.2% to a seasonally adjusted rate of 1.365 million in November, exceeding expectations. The news kept on rolling with housing permits, a leading indicator of future starts, rising to 1.482 million – the highest in 12½ years. … READ MORE >
Boeing’s stopping of 737 Max production will affect far more than just Boeing
Boeing’s announcement this week that it would halt production of its troubled 737 Max in January 2020 will have an impact that extends far beyond its own business, and will most likely shave 0.5% off first-quarter GDP in the United States. … READ MORE >