Good News

December 2010 National Employment Report (pdf)

After a mid-year pause, employment seems to have accelerated as indicated by September’s employment gain of 29,000, October’s gain of 79,000, November’s gain of 92,000 and December’s gain of 297,000.

The new year is starting off pretty well overall. It has certainly exceeded my expectations so far.

According to the ADP Report, employment in the service-providing sector rose by 270,000 in December, the eleventh consecutive monthly gain and the largest monthly increase in the history of the report.

That said, 270,000 in the service-providing sector? It will be interesting to see the breakdown of what those jobs are in the next BLS report. Are those the kinds of jobs that will reduce our unsustainable trade deficit?

I would also point out that our government debt has grown by over $6 trillion since I turned bearish in 2004. It should come as no big surprise that $6 trillion of debt can eventually create something.

I'm using the "real prosperity" label for this post again. I continue to set the bar very low.