Friday, January 6, 2012
The Department of Labor released the December employment report today. I don't think I've written this for several years, but it looks pretty good. The headline is the unemployment rate dropping to 8.5%, from a revised 8.7% the previous month. There was 200,000 jobs added (220,00 in the private-secotr offsetting public job losses). Other measures showed improvement. The underemployment rate, while still a high 15.1% is still down. Also, wages and hours worked are up--all goods signs for the future. Finally, lest you think this is all Christmas sales, growth was seen in manufacturing, transportation, warehousing, retail,and even construction.
Wednesday, January 4, 2012
UPDATE: Looks like the earlier reports are correct: the White House has just announced that it will make recess appointments for all 3 pending NLRB nominees (Block, Flynn. and Griffin). I'm a bit suprised that he appointed the Republican, Flynn, as he hadn't done that the last time around. But it's a pleasant surprise, as I think it's good to have the NLRB with the full 5 members and also appears more even-handed.
Something to monitor today: Reports are out that the President will make a recess appointment of Richard Cordray as director of the Consumer Financial Protection Bureau. Those same reports indicate that other recess appointments are coming today as well. The big question, if true, is whether the NLRB nominees are among them. I can't imagine that, if other recess appointments happen, the NLRB wouldn't be included, but we'll have to see. Stay tuned.
Hat Tip: Patrick Kavanagh, Mitch Rubinstein, and Rebecca Hamburg