Employment Statistics: Back to Slow and Uninspiring

Today’s U.S. Bureau of Labor Statistics report of a 39,000 increase in jobs shows we’ve returned to anemic employment growth after October’s bump. U.S. business clearly remains cautious in this – so far – weak recovery. Heavily discounted holiday sales and limited pricing power appear to be cutting into the revenues that would be needed to sustain faster employment growth. We don’t see any signs that this holiday season will jump-start 2011 employment.

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