Labor Demand Continues to Rise
The Conference Board released its Help Wanted Online Labor Demand report. Link: The demand for labor continues to be healthy and this among other labor demand indicators provides a positive forecast for higher employment in the next 6mos-12mos.
Please note that this increase occurred in the heart of the “Fiscal Cliff” hand wringing when many were indicating that hiring was being reduced due to policy uncertainties. The economy historically does not reflect these concerns. Once the economy turns higher it tends to improve till it reaches a point of excess. At that point the economy is running at the ~4% Real GDP range and begins to be self-limiting having risen to a rate greater than the 3% long term average.
The final piece of the economy appears poised for recovery, housing and construction. These sectors should provide 4yrs+ of additional economic strength if history repeats.
Optimism remains warranted for equities!
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