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Jim Sinclair’s Commentary
The lastest from John Williams’ www.shadowstats.com
- November Trade Deficit Widened Sharply, Setting the Stage for the Worst Quarterly Real Merchandise Trade Deficit Since 2007, and Taking a Large Chunk Out of Fourth-Quarter 2016 GDP Growth
- Nonsense Employment Detail: Payrolls Rose 156,000 in December, Gained 703,000 in Last Four Months, but
Full-Time Employment Rose 35,000 in December, Flat (-8,000) in Last Four Months
- Annual Growth Rates in December Payroll and Full-Time Employment Fell Sharply, to Multi-Year Lows; Nonfarm Payrolls at Weakest Growth Since Exiting the Recession
- Household Survey Revisions Were Minimal for Widely Followed Details, yet January Unemployment Data Face a Series Break, while the Payroll Survey Faces Net Downside Benchmark Revisions Next Month
- December 2016 Unemployment Rates Mixed: U.3 Rose to 4.7% from 4.6%, U.6 Eased to 9.2% from 9.3%, ShadowStats-Alternate Rate Eased to 22.7% from 22.8%
- Despite a Monthly Nominal Gain and Downside Prior-Period Revisions, Real Construction Spending Remained Down by 22% (-22%) from Recovering Its Pre-Recession High
- December M3 Annual Growth Notched Higher to 3.9% Versus an Upwardly Revised 3.8% in November; Still Down from 4.5% in June
“No. 860: December Labor Conditions, November Trade Deficit and Construction Spending”
www.shadowstats.com
Jim Sinclair’s Commentary
The lastest from John Williams’ www.shadowstats.com
- November Trade Deficit Widened Sharply, Setting the Stage for the Worst Quarterly Real Merchandise Trade Deficit Since 2007, and Taking a Large Chunk Out of Fourth-Quarter 2016 GDP Growth
- Nonsense Employment Detail: Payrolls Rose 156,000 in December, Gained 703,000 in Last Four Months, but
Full-Time Employment Rose 35,000 in December, Flat (-8,000) in Last Four Months
- Annual Growth Rates in December Payroll and Full-Time Employment Fell Sharply, to Multi-Year Lows; Nonfarm Payrolls at Weakest Growth Since Exiting the Recession
- Household Survey Revisions Were Minimal for Widely Followed Details, yet January Unemployment Data Face a Series Break, while the Payroll Survey Faces Net Downside Benchmark Revisions Next Month
- December 2016 Unemployment Rates Mixed: U.3 Rose to 4.7% from 4.6%, U.6 Eased to 9.2% from 9.3%, ShadowStats-Alternate Rate Eased to 22.7% from 22.8%
- Despite a Monthly Nominal Gain and Downside Prior-Period Revisions, Real Construction Spending Remained Down by 22% (-22%) from Recovering Its Pre-Recession High
- December M3 Annual Growth Notched Higher to 3.9% Versus an Upwardly Revised 3.8% in November; Still Down from 4.5% in June
“No. 860: December Labor Conditions, November Trade Deficit and Construction Spending”
www.shadowstats.com
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