The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Saturday, November 3, 2012

Bloomberg: US payrolls (jobs) smash expectations

From Bloomberg:

Nov. 2 (Bloomberg) -- Hiring in the U.S. increased more than forecast in October as employers looked past slowing global growth and political gridlock at home. In the last jobs report before next week’s election, a net 171,000 workers were added to payrolls, Labor Department figures showed today in Washington.

Broad-based gains in employment -- from car dealers and hospitals to factories and construction sites -- indicate consumers are likely to spend more freely and shore up the three-year expansion in the face of a global economic slowdown and political gridlock in Washington over taxes and spending.

Hiring increased by 171,000 workers after a 148,000 gain in September that was bigger than first estimated, Labor Department figures showed today in Washington. October’s increase exceeded the most optimistic forecast in a Bloomberg survey with a median projection of a 125,000 gain.