Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (28770)	10/8/1999 4:50:00 PM
From: Jacob Snyder	Respond to of 99985

inflation watch (emphasis mine): October 8, 1999 Unemployment Stays at 4.2%, While Payrolls Fall, Wages Rise An INTERACTIVE JOURNAL News Roundup- WSJ WASHINGTON -- Hurricane Floyd caused U.S. nonfarm payrolls to drop for the first time in more than three years in September, but average wages registered their biggest gain in more than 10 years. In a separate report, inventories of goods at the wholesale level gained for the seventh straight month in August, while sales rebounded from a drop in July. The Labor Department said Friday that payrolls declined 8,000 during September, the first drop since January 1996. But the unemployment rate remained unchanged at 4.2%, as expected. Wage pressures accelerated beyond expectations, however. Average hourly earnings, a key gauge of inflationary pressure, grew by seven cents to $13.37 in September, much sharper than the two-cent gain in August and far surpassing expectations of a three-cent advance. Economists surveyed by Thomson Global Markets expected September payrolls to increase 220,000. "Obviously we're seeing some moderation of [jobs] growth in the economy but we also recognize that in this report there is significant impact by Hurricane Floyd," said Labor Secretary Alexis Herman. The department said the hurricane cut growth by 50,000 jobs. Payroll growth would have been weak in September anyway, compared with the robust gains reported for most of this year, the Labor Department said. The contraction in September payrolls was led by a 49,000 decline the retail-trade sector, the second straight drop in the industry. But for effects of the hurricane, the decline would have been just 25,000.