The January employment report released this morning by the Bureau of Labor Statistics offered some evidence for the bears and some evidence for the bulls.
So, what gives? Winter storms might have been a mitigating factor, stranding employees at home during the survey week. Other indicators such as the two indexes from the Institute for Supply Management suggest that the economy is ramping up. The ISM manufacturing index hit a robust 60.8 last month, its highest level since May 2004, while the ISM non-manufacturing index rose to 59.4, the highest level in the three-year history of the survey. Values above 50 indicate that the sectors are expanding.
Business opportunities are increasing, and employers will start hiring again at more robust levels to take advantage beginning in the spring.
Have a great weekend.