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Friday, October 05, 2007

US Economy Gains 110,000 Jobs in September 2007

U.S. job growth rebounds. 110,000 new jobs were created by the US economy in September

(5:30AM PST) August was revised from a loss of 4,000 jobs a gain of 89,000 new jobs, mostly in government.

This better than expected jobs report could tip the scales away from "recession fears" back to "fear of inflation" as the markets obsess over needing something to worry about

U.S. Sept. job growth seen in health care, food services
U.S. Sept. household employment rises 463,000, most in 2 yrs
U.S. payrolls annual benchmark revision down 297,000
U.S. Sept. public teacher hiring rises 46,000
U.S. Sept. average hourly earnings up 0.4%
U.S. Sept. private-sector payrolls rise 73,000
U.S. Sept. unemployment rate 4.7% as expected
=> 4.7% Unemployment rate was the highest in a year.
U.S. July, Aug. payrolls revised up 118,000
U.S. Sept. nonfarm payrolls up 110,000 vs. 113,000 expected


Click Graph to View Full Sized

Treasuries plunged after jobs report; 10-yr yield up to 4.597%
S&P 500 futures rise 10.40 points to 1,563.00
Dow industrial futures up 69 points at 14,110
Dollar rallies after jobs report; euro down 0.5% at $1.4061
Crude futures drop 39 cents at $81.05

Unemployment Rate Chart from BLS

(Series Id: LNS14000000 Seasonal Adjusted)

© Kirk Lindstrom

Kirk Lindstrom's Investment Letter Performance

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