TMO - Jobs A Poppin' - Re-Rating S&P 500 To 3500 For 2020 And Buy Tech
Jobs A Poppin'
No one expected this outside number. Most were taking into account the below trend ADP number produced on Wednesday of only 67,000. Instead, we get eye-watering numbers that MUST be paired with an exclamation point: November Jobs 266K! (with 255K in the private sector), Manufacturing 54K! September and October have been uprated by 41k with October now 156K from 128K, and September now 193K from 180K!
Even if you subtract the striking GM workers, you have 214K private worker jobs added, and 14K manufacturing. Not bad in the teeth of the trade-war