Thursday, December 2, 2010

Economics 2/12/10: What PMIs tell us about the job market

An interesting additional point of view on jobs market. Today's Manufacturing PMIs suggest no improvement in November jobs outlook in Manufacturing sectors:
So far, there are absolutely no signs of jobs creation here with employment PMIs indicators:
  • Services - October reading (latest so far) at 46.2 - well below expansion 50+) and declining on September reading of 49.8; and
  • Manufacturing - November reading at 49.3, signaling worsening performance from already contractionary 49.8 in October.
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