The Most Troubling Piece Of The Philly Fed Report

Jobs Initial Claims Resume Job Seeker Employment Unemployedmployment seekers attend the ‘JobExpo’ employment fair at the Radisson Martinique on Broadway hotel on January 25, 2012 in New York City.

Photo: Mario Tama/Getty Images

Do not expect much good news on the jobs front any time soon, according to market indicators from the Philadelphia Fed’s most recent Business Outlook Survey.labour market conditions at the reporting firms deteriorated this month. The current employment index decreased 10 points, to   ‐8.4, its second negative reading in three months. The per cent of firms reporting decreases in employment (18 per cent) exceeded the per cent reporting increases (10 per cent).

Along with the overall decrease in employment, firms also indicated fewer hours worked. While the average workweek index did increase 2 points, the index posted its fourth consecutive negative reading. 

Business Outlook Survey

Photo: Philly Fed

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