THE LOST DECADE

Posted by David Rosenberg - Gluskin Sheff

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  • We started the decade with a national payroll level of 130.8 million, we finished the decade basically unchanged at 130.9  million
  • The details of today’s U.S. nonfarm payroll were very soft.
  • It’s not just the magnitude of the job declines but how widespread they are that is disturbing
  • The Canadian employment number also came in below expected, at -2,600 in December versus consensus forecast of 20,000.
  • Investor complacency running high — there are now 3x as many bulls as there are bears.

…..read more HERE.

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