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US Employment Looks Better

Jiggy will not be pleased

*****



Floyd Norris - Notions on High and Low Finance


November 2, 2009, 6:00 pm

Employment Looks Better

For those convinced the economy cannot be improving, job numbers are
Exhibit
No. 1. The expectation (according to a Bloomberg survey of economists) is
that employment fell by 175,000 in October in the United States. (We get
the
number, or at least the first estimate of it, on Friday.)

Today we got a very promising indication that things are turning around.
The
Institute for Supply Management's survey of manufacturers in October
produced a figure of 53.1 for new employment in October. Any number above
50
indicates that more companies are hiring than firing.

That would seem to indicate the United States is doing better than most
countries. Here, courtesy of Markit, which conducts similar surveys
around
the world, are the new employment figures for October. Again, a figure
over
50 indicates job growth.

NOT GROWING
Austria, 42.3
Germany, 42.7
Spain, 42.9
Netherlands, 43.2
Total Eurozone, 43.7
Czech Republic, 43.8
Italy, 44.0
Ireland, 44.1
Britain, 44.7
Poland, 44.8
France, 46.5
Greece, 46.7
Russia 47.4
Japan, 47.6

GROWING
China, 55.3
Taiwan, 54.7
U.S. 53.1
South Korea, 52.0
Turkey, 51.7
India, 50.8

* Copyright 2009 The New York Times Company
--

life is a dream for the wise, a game for the fool, a comedy for the
rich, a tragedy for the poor  - sholom aleichem
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