Employment Outlook Preview: November 2005

Tomorrow morning, as you prepare for the first weekend in December, the Bureau of Labor Statistics will be releasing its Employment Situation for November 2005. While the weather may be cold, the economy is blazing like the fireplaces in many American homes. Reporting at BusinessWeek shows that Action Economics is predicting a November rebound of 175,000 in payroll employment.

Following a few months of hurricane-deflated numbers averaging a mere 24,000 (still a net gain) average increase in employment, the economy came into November with a 4.3% (revised up from 3.8%) third-quarter economic growth rate and an ideal 5.0% unemployment rate. Consumer spending soared in the third-quarter and the outlook for the close of 2005 looks good with stellar numbers from Black Friday, the year's most notorious shopping day. Smartmoney.com reports:

According to the National Retail Federation, a Washington, D.C.-based trade organization, shoppers spent $27.8 billion during Black Friday weekend, up 21.9% from the same weekend in 2004.

The theme for the times is economic expansion, and it doesn't seem to be tiring any time soon. Stay tuned for the full outlook and analysis tomorrow morning ...