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Notes to myself, possibly of interest to others.
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Wednesday, December 1, 2010

DeLong - Labor market getting worse more slowly

U.S. Nov. ADP employment up 93,000: Private-sector employment rose 93,000 in November, the largest gain in three years, according to Automatic Data Processing Inc.'s employment report released Wednesday. Employment in the service-producing sector gained 79,000, while the employment in the goods-producing sector rose 14,000. On Friday the government will report on employment for November, and economists polled by MarketWatch expect a gain of 155,000 for nonfarm payrolls, and for the unemployment rate to remain at 9.6%.

An average monthly pace of 93K seasonally-adjusted net private sector jobs still is not quite enough to keep the unemployment rate from drifting upward,

And I am not sure where the 62K seasonally-adjusted net public sector jobs are supposed to come from. So I will bet on the under on this one

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