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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (18991)	12/19/2004 4:21:22 PM
From: maceng2	Read Replies (2) \| Respond to of 116555

No, the "rosy employment situation" is based on official data. The contrarian data is from surveys. The news article quoted does show that the loss in manufacturing jobs was offset by public sector bloating of jobs. Since the start of the year, employment measured by the survey of employers has fallen by 112,000 in the private sector, with only 115,000 extra public-sector jobs preventing a fall in total numbers in work. Message 20870835 and as said, a lot of these new jobs don't pay much. Your link by Mauldlin states.. UK household debt is 140%, which is above US levels which sounds about right to me. The average UK citizen has higher taxes and less pay then his/her US equivalent and is in a worse position to pay off debt. So yes, I see dark clouds on the horizen.