Private Report Says Jobs Grew By 215,000 In December Against Forecast Of 140,000 By Economists

Thursday, January 03, 2013 08:55
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Private Report Says Jobs Grew By 215,000 In December Against Forecast Of 140,000 By Economists

Tags: Congress | deficit | investment strategies

Businesses boosted the number of jobs in December by 215,000 according to a private report from ADP Research Institute. Bloomberg’s survey of 36 economists yielded a forecast of a 140,000 increase.
 
But the budget deal reached by Congress did not come in time to prevent another downgrade of US debt. Both Moody’s and Fitch have placed a negative watch on US debt.

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In readings from other economic indicators, the ratio of government debt to gross domestic product (GDP) is likely to peak at around 80% in 2014 and may remain at that peak level through the rest of the decade.
 
As well, the debt ceiling has already been reached by the Treasury and that will be the next Congressional confrontation.
 
An increase in the debt ceiling could be approved as soon as mid-February and Republicans are reportedly planning to use the vote as a tool to force cuts in entitlement programs such as Medicare.
 
Yields on US Treasury 10-year bonds has fallen 72 basis points since the US credit rating was cut to AA+ on August 5, 2011.
 
We'll see how these numbers stack up against the Department of Labor report says tomorrow--Friday, January 4.

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