Today’s U.S. Bureau of Labor Statistics report marks a second consecutive month of disappointment. December’s uninspiring employment growth of 103,000 reinforces the strong challenges still facing the U.S. economy. Today’s number, combined with the steady decline in jobless claims, suggests we are only seeing a slowdown in layoffs, not yet a material pickup in hiring. While the labor market enters 2011 with stronger momentum than it had starting 2010, today’s report won’t help the continuing weakness in consumer confidence. Meanwhile, businesses worry about the lack of pricing power, and federal spending cuts may soon join the austerity spread wide across state and local levels. We expect that 2011 will be better than 2010, but that disappointments will abound.
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world’s leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.
CONTACT: Dominic McMullan, +1-212-339-0280, firstname.lastname@example.org, or Eileen Leonardo, +1-212-339-0280, email@example.com
Web Site: http://www.conference-board.org
Tagged with: Bureau of Labor Statistics • Business • Companies • Conference Boards • Consumer Confidence • Consumer Price Index • Economy • Economy of the United States • Employment • Industry • Jobless claims • Labor Statistics • Labor Statistics for December Uninspiring • Layoffs • Markets • report • Unemployment • United States
Filed under: Business