TomClash's Talking Points on the Jobs Numbers [View All]

[TomClash]

1. To absorb all the new entrants into the job market, about 150,000 jobs must be added each month. 96,000 new jobs does come close. Kudos to Lynn Franco of the Conference Board for being right.

2. Almost three years into the "recovery," unemployment is 6.3% in Ohio, 6.7% in Michigan, 7.4% in Oregon and 6.2% in Washington.

3. Job cut announcements soared 45% in September.

4. Though it committed extra resources to uncover a link, the hurricanes in Florida did not have an impact on the jobs numbers.

5. Of the 96,000, 33,000 was in TEMPORARY HELP SERVICES.

6. Of the 96,000, 26,000 was in the financial services sector, an area where the outlook is considerably less rosy than a year ago.

7. Manufacturing lost 18,000 jobs in September; telecommunications lost 9,000 jobs; construction added no new jobs.

8. In short, we still have a dwindling, mediocre economic recovery even though record federal government deficits should provide significant stimulus to the economy.