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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (76251)	6/7/2002 7:22:19 PM
From: qwave	Read Replies (1) \| Respond to of 99280

I don't know how limtex can say the unemployment report was good news. Those numbers can't be too reliable when you have April payroll adds go down 37k from previous report. Adds for May were well below expectation. The unemployment percentage although down from April is still higher than March. Unemployment picture is going to get worse.

To: Zeev Hed who wrote (76251)	6/7/2002 9:38:19 PM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 99280

Zeev, see overtime and temp employed. A temp is not counted in the pool of the working. IMHO also higher productivity is responsible for a slow job market. In prosperity it is easier to keep more than needed workers, for "just in case" but after sliming down no one is eager to hire one back. Overtime and the Temp's items were quite robust as many are not hiring yet and load more on overtime. See the fine print As part of the business survey, the number of companies saying they added workers was higher than the number saying they cut jobs. This shows up in the diffusion index, which was 50.6 percent -- with 50 representing the difference between hiring an cutting. The index hasn't been above that level since March 2001. In May, U.S. factories shed the fewest jobs in 1 1/2 years as General Motors Corp. stepped up production and other manufacturers assembled more goods to replenish depleted stockpiles. Instead of hiring more workers, factories boosted overtime to 4.3 hours in May from 4.2 hours. May's level of overtime was the highest since November 2000. For all of last year, manufacturing lost 1.31 million jobs. quote.bloomberg.com