Thursday, July 22, 2010

Sector Updates

With recent release of 2Q 2010 earnings, I've like to touch on a few points.

It was good to see that revenue ticked up for most of these corporations. Although, I'm still cautious with the early developments of austerity measures in Europe, and the looming regulations and tax regulations in the United States, revenue did improve for the staffing sector.

Profitability does leave something to be desired, until there robust action in terms of revenue that is sustained in a normalized recovery, I am cautiously optimistic on the sector.

Friday, July 2, 2010

June 2010 Unemployment 125,000 Shed

The US continues to face challenges in its labor markets.

125,000 jobs were cut. While the private sector added a less than robust 83,000 jobs. Consensus estimate were for the creation of 110,000 jobs in the private sector.

Over 652,000 people left the labor force.

Average work week hours also declined, from 34.2 to 34.1 hours worked.

The economy continues to experience significant headwinds with cuts from the delayed decision of extended unemployment benefits, to the possible future austerity measures that the US may follow the rest of the world. Time will tell if there will be another jobs bill to stimulus the sluggish recovery.

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