While we are waiting for the 8:30 Non Farm Payrolls report (guess how I am betting), I thought we might take a look at yesterday’s Monster.com Employment Index. (I assume you already saw Thursday’s uptick in New Unemployment claims).
click for larger graph
The question is, does the chart reflect the macro environment or is it merely revealing of a dead tree asset — newspaper job classifieds — going digital?
The CEO of Monster.com discussed this yesterday morning on CNBC.
I found particularly noteworthy were the areas that experienced increased jobs demand: Military, Mining, Forestry and Retail.
What’s significant about these sector improvements is that the biggest gainer was government — as opposed to private sector job creation. Recall the February Jobs report had a similar disproportionate gain from non-private sector (gummint) jobs. I don’t know what to say about mining or forestry, other than it reflecting the ongoing commodity demand.
And then there’s retail, which on average pays fairly low wages and has poor benefits.