-
-
-
-
CIO Insights are written by Angeles' CIO Michael Rosen
Michael has more than 35 years experience as an institutional portfolio manager, investment strategist, trader and academic.
RSS: CIO Blog | All Media
Jobs, Jobs, Jobs
Published: 02-06-2015The US economy is stronger than we think: 257,000 net new jobs in January, but another 404,000 jobs were “found” (due to a recalculation) in November and December. More than 140 million are currently employed, a record high (see Chart below).
The unemployment rate is 5.7%, but if we include part-timers and discouraged, that percentage rises to 11.3%. Way too high, but making progress (see Chart below).
One of the details in the data is the number of people quitting their jobs: 9.5% of the unemployed quit their jobs, the highest percentage since 2008. This is a datum only a wonk (or a Fed Chair—Janet Yellen has singled out this number as particularly meaningful for her) could love, as it presumably shows a higher confidence among voluntary quitters that they will find another job.
There’s always lots of noise in the data, but the US economy, if not humming, is certainly chugging along.
Print this ArticleRelated Articles
-
25 Nov, 2014
EM Thoughts...Not There Yet
Successful investing is frequently about balancing valuation with growth prospects. We would all love to invest in cheap ...
-
24 Mar, 2016
Laboring
In some respects, this is a golden age for labor. The unemployment rate has dropped to 4.9% from a high of 10% in ...
-
16 Sep, 2016
Give Us Your Poor
A large percentage of energy expended at Angeles is in evaluating, analyzing and judging investment managers. It is a ...
-