Friday, January 04, 2008


Uh oh. Better cut taxes some more. AP (01.04.07):
"Hiring practically stalled in December, driving the nation's unemployment rate up to 5 percent, a two-year high. The new figures fan fears the economy could slide into a recession.

Last month, employers added the fewest new jobs to their payrolls in more than four years, said the jobs report released Friday by the Labor Department."

Jobless Rate Hits 5 Percent, 2-Year High

"The report also showed that employment conditions are deteriorating, strained by a housing slump and credit crunch that are sapping economic strength."

Consensus had been around 70,000. Came in at 18,000. Bloomberg (01.04.07):

"The December job gain puts the total payroll increase for 2007 at 1.33 million, the fewest in four years."

U.S. Payrolls Rise 18,000, Smallest Gain Since 2003



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