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TrimTabs
- Press Release - Jul 07, 2004 Investment
Research Shows 174,000 New Jobs in June, not 112,000 Santa Rosa, CA - July 7, 2004 - A great deal of ink has been spilled lamenting the lack of job growth measured in June by the U.S. Bureau of Labor Statistics (BLS). "The job growth in June is healthy for this stage of economic recovery. While it was less than half of the explosive growth in March and April, the state of the labor market is not as dire as most press coverage suggests," said Madeline Schnapp, Editor at TrimTabs Investment Research. While the BLS measured job growth of 112,000 employees in June, TrimTabs' year-over-year methodology measured job growth of 174,000 employees in June, bringing the gain since 2003 to 2,142,000 employees, not 1,442,000 per the BLS. "Not only is the BLS 'rear-view mirror' methodology underestimating past gains, it is missing the recent rebound. Employment growth is simply shifting from an explosive pace to a healthy one," added Schnapp. Online Job Postings Index Rockets 11.35% The TrimTabs Online Job Postings Index marched higher for the second week in a row, rising 3.08 points, or 6.4%, to 51.13 from the previous week's reading of 48.05. This index has surged 11.35% over the past two weeks, demonstrating acceleration in labor market demand during the last two weeks of June. Demand
for temporary workers continues to increase at a robust pace, rising by
54,000 workers in June. Year-over-year demand rose by 234,000, a healthy
9.4% increase, suggesting the labor market is continuing to improve. CONTACT:
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