Weekly Job Update Link
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December 2007
December 26, 2007
December 20, 2007
December 2007 BROKERHUNTER Bulletin Link
Click on this link to view the enire December edition of The BROKERHUNTER Bulletin http://www.brokerhunter.com/newsletter/
December 13, 2007
Securities Industry Employment for November 2007
Overall
In an upward surprise, the U.S. overall labor market grew by 94,000 jobs in November, according to the Bureau of Labor Statistics. This exceeded the consensus forecast of economists by nearly 10,000 jobs. At the same time, however, strong previously reported job growth for September and October were revised downward by over 20%.
The Construction and manufacturing industries continued to shed jobs, but at a lessening pace; while the overall financial services area lost 20,000 mostly in the mortgage and real estate related areas.
Securities Industry
The Securities Industry job market remains resilient. In November the sector added nearly 3,000 jobs, continuing its trend upward into record territory, at 856,800 employees. The employment growth for 2007 is now at a 3.38% year-to-date rate. It appears, at this time, that 2007 will finish in line with the previous "post 911 recovery" years of 2004 - 2006.
Recent growth rates have been far below the levels seen in the late ‘90's and in 2000; with the industry adding jobs at a 7-9% clip. We prefer the more controlled and hopefully more sustainable employment levels we have seen over the last 4 years.
December 12, 2007
Securities Industry Employment for October 2007
Overall
The U.S. economy created 166,000 jobs in October, exhibiting unexpected strength. In fact, this was the most robust job growth rate since May of this year and was more than double the 80,000 expected by a consensus of economists. On the downside, this payroll report may make a FED interest rate cut in December, less likely.
Jobs continued to be lost in the manufacturing and construction sectors. However the slowdown in construction jobs moderated in October only dropping by 5,000 with increased hiring in nonresidential construction offsetting continued weakness in residential.
Securities Industry
The job situation in the broad sector of financial activities was steady with job loss in the area of mortgage lending and related activities moderating and being somewhat offset by gains in other areas, including the Securities Industry.
We managed to remain steady at historically high employment levels of 853,900 employees, with a little over 5,000 net new jobs being created for the month; albeit with downward revisions to previous months. The year-to-date employment rate through the first 10 months, shows a net gain of over 25,000 jobs for an anticipated annualized growth rate fractionally above 3% - leading us to project the hiring year of 2007 may turn out to be a bit slower than last years 3.93% rate.
