Gavekal Capital: US Employment Report Chart Update

Friday, December 5, 2014

US Employment Report Chart Update

Nonfarm payrolls came in well above expectations at 321K vs expectations of 230K for November. In addition, the previous two months were both upwardly revised by a total 44K jobs. Private nonfarm payrolls were up a very impressive 314K. This is the largest monthly gain since January 2012 and the third largest gain during this recovery. Average weekly hours of all employees ticked up to 34.6 hours, which is the highest level since May 2008. Real average hourly earnings on a 3-month annualized basis increased to 2.22%, which is the highest level since January 2013. The participation rate remained unchanged at 62.8%. Lots of charts below...

About Gavekal Capital

Gavekal Capital is a US registered investment advisory firm that manages the Gavekal Knowledge Leaders Strategy. Knowledge Leaders are a group of the world’s leading innovators with deep reservoirs of intangible capital. These companies often possess competitive advantages such as strong brand, proprietary knowledge or a unique distribution mechanism. Knowledge Leaders are largely service-based and advanced manufacturing businesses, often operating globally. Gavekal Capital seeks to identify the world’s leading knowledge companies through a proprietary process that analyzes corporate knowledge investments.
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