Business Activity in U.S. Grows at Fastest Pace in Two Decades

[impik]

Businesses in the U.S. expanded in December at the fastest pace in two decades, adding to evidence the world’s largest economy is accelerating heading into 2011.

The Institute for Supply Management-Chicago Inc. said today its business barometer rose to 68.6 this month, exceeding the most optimistic forecast of economists surveyed by Bloomberg News and the highest level since July 1988. Figures greater than 50 signal expansion.

http://www.bloomberg.com/news/2010-12-30/chicago-purchasing-managers-index-unexpectedly-climbed-to-68-6-this-month.html?t=TOP-OK&pos=1

[Cali_Democrat]

1. So where are the jobs?

Businesses are squeezing productivity out of current workers while refusing to hire. That's why we see abyssal jobs numbers, yet increaed overall production.

Factories like FoxConn created about 300,000 this past year. The entire US economy created about 900,000 jobs so far this year. A single factory in China created what amounted to 1/3 of all the jobs created in the US in 2010. That's laughable.

Businesses are squeezing productivity and aren't increasing salaries either. They want a nation of debt-ridden slaves with low salaries. And if those debt-ridden slaves won't do the job, they will hire virtual slave labor in China and other 3rd world countries.

[readmoreoften]

2. +1.

[Imajika]

3. The economy is now turning around...

The jobs situation will improve, perhaps rapidly, going into 2011/2012.

Business cycles exist and we are now heading into an positive cycle. Additionally, the tax cut deal Obama cut with the GOP will likely act as something of a second stimulus which may improve the situation even further.