Markets in a Minute - And Then There Were Two
By: Zac Martin
Author: Zac Martin, Investment Associate
Week Ending December 6th – And Then There Were Two
The economy added 227k jobs in November, which was slightly above analyst expectations. The past month’s job growth was driven by an increase in healthcare, hospitality, and government jobs. Additionally, overtime hours continued to increase to 2.9 hours per week. Overall unemployment increased 0.1% to 4.2%.
Job Openings for October increased to 7,744k which was well above the expected amount. Additionally, Labor Turnover data was mixed, Hires continue to decrease while Quits increased by 228k.
ISM Manufacturing PMI grew in November to 48.4 which is still considered contractionary. Additionally, New Orders, which has been one of the weakest components, has entered into an expansionary trend. The last time manufacturing New Orders were consistently expansionary was prior to May 2022.
ISM Services PMI remains in expansionary territory however, most components decreased in value besides Imports and Inventory Sentiment.
The week ahead:
NFIB Small Business Index (12/10)
Consumer Price Index (12/11)
Producer Price Index (12/12)
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