Via Hot Air, an interesting way to score a touchdown.
Monthly Archives: November 2008
A very weak employment report
More bad economic news arrived today from the Bureau of Labor Statistics.
Main Street Recession Watch: ADP Report on Employment
Further evidence that the small business segment of the economy is undergoing stress. From the ADP National Employment Report:
[Joel] Prakken added, “This month’s employment loss was driven by the goods-producing
sector which declined 126,000 during October, its twenty-third consecutive monthly
decline. The manufacturing sector marked its twenty-sixth consecutive monthly decline,
losing 85,000 jobs. These losses were compounded by an employment decline in the
service-providing sector of the economy which fell by 31,000, the first loss in the serviceproviding
sector recorded by the ADP Report since November of 2002.”“Large businesses, defined as those with 500 or more workers, saw employment decline
41,000, while medium-size companies with between 50 and 499 workers declined
91,000. Employment among small-size businesses, defined as those with fewer than 50 workers, declined 25,000. This is the first outright decline in small business employment reported by the ADP Report since November of 2002, and the largest percentage decline
since the economy was emerging from recession in early 2002,” said Prakken.
Manufacturers report more bad news
A quick update on the October ISM report.
Another bad month for autos
To say that the U.S. auto sector continues to bleed may be an understatement. Maybe we should start talking about a severed artery.
Fiscal Implications of the Candidates’ Plans
I think now is the time to consider the fiscal implications of the candidates’ budget — and particularly tax — plans, especially considering the revenue declines and outlays that will confront the next President. Indeed, I would say imminent revenue declines will place an even greater premium on sensible tax plans, and efficient use of Federal dollars. Figure 1 displays the budget surplus to GDP ratio, both actual and CBO baseline.