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Afternoon Note

Jobs Report Okay (even great silver linings)

By Charles Payne, CEO & Principal Analyst
1/5/2018 1:28 PM
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The headline jobs report was something of a disappointment, but there were some remarkable parts of the report that are encouraging for all Americans. 

The trend of lower unemployment rates continues for all racial demographics as black unemployment reaches the series low (going back to 1972) of 6.8% from 7.9% a year earlier.  The news is even more impressive considering an increase in the black labor force and participation rate.

The realities of the evolution of our economy is glaringly evident, as well as the unemployment rate for those with less than a high school education, which ballooned to 6.3% from 5.2% in a single month.   These folks were surely hurt by the loss of 20,300 retail jobs. 

Yellow Flags

The U6 Number, which is the better read for unemployment, edged higher to 8.1% from 8.0% as part time work because of economic reasons saw an additional 64,000 lifting the overall number to 4.9 million.

The mixed jobs report hasn’t put a damper on the major indices, which are all in the green powered by strength in technology.  This is the fourth consecutive up day for the markets. At midday, advancers and decliners are close to even on the NYSE 1448/1415 and advancers outpaced decliners 1428/1377 on the Nasdaq. 

Have a great weekend.

Keep up the good work..watch ya every night ..take care ✌🏽🇺🇸

Derrick on 1/7/2018 2:04:35 PM

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