Sigh...
Reuters:
Jobs Loss at 169,000 in Nov., Worse Than Expected: ADP: U.S. private employers shed fewer jobs in November from October, marking the eighth straight monthly decline in private-sector job losses, a report Wednesday showed. Private companies shed 169,000 jobs last month, fewer than the 195,000 jobs lost in October, suggesting some stabilization in the labor market as the economy emerges from recession, according to the ADP Employer Services report, jointly developed with Macroeconomic Advisers...
Goldman Sachs forecasting:
Goldman Sachs 2011 forecast: The key features of our 2011 outlook: (1) a strengthening in growth from 2.1% on average in 2010 to 2.4% in 2011, with real GDP rising at an above-potential 3½% pace in late 2011; (2) a peaking in unemployment in mid-2011 at about 10¾%; (3) extremely low inflation – close to zero on a core basis during 2011; and (4) a continuation of the Fed’s (near) zero interest rate policy (ZIRP) throughout 2011. That said we see risks that could upset these markets. On the one hand, we might be underestimating the vigor of the economic recovery, and therefore the pressures for Fed tightening. In addition, surging asset prices and worries about a “bubble” could prompt Fed officials to tighten before such a move seems warranted on real-economy grounds. On the other hand, the economy (and the markets) could struggle under the weight of credit restraint for small businesses, weakness in commercial real estate markets, or fiscal tightening, especially by state and local governments...
