SKY News Summary 02-04-10
The usual post-recession cycle begins with increased productivity, indicated by increased output and hours worked. Companies hold back as long as possible before they add employees, the next part of the cycle, and finally they raise wages. Today’s productivity numbers show a steep increase, but it looks like we have not entered the second phase of the cycle, as employment continues to decrease. The Department of Labor’s important Employment Situation report for the month of January will be out tomorrow: But today, the DOL’s weekly report, ADP, and Monster all reported decreased employment. The government’s initial jobless claims figure for the week ending January 30 increased by 8,000, while the continuing claims for the week ending January 23 increased 2,000 decreasing the 4-week moving average by 51,250 to 4,617,500. ADP showed unemployment increasing 22,000 for the full month of January which was its smallest increase in unemployment since February 2008. The service-producing sector actually increased jobs by 38,000, although the goods-producing sector dropped 61,000 jobs. Monster’s online jobs data showed recruitment activity down 3 percent from January of last year. It also showed reduction in construction and wholesale trade recruitment, but an increase in job offerings in education, arts, entertainment and recreation.
http://www.dol.gov/opa/media/press/eta/ui/current.htm
http://www.adpemploymentreport.com/
http://about-monster.com/sites/default/files/employment-index/MonsterLEI_NY_Jan10.pdf
Presentations:
ConocoPhillips at the Credit Suisse 2010 Energy Summit
Exelon at the Credit Suisse 2010 Energy Summit
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MjcxNzc5NnxDaGlsZElEPTM2NzE4MnxUeXBlPTI=&t=1
ExxonMobil 4Q 2009
http://www.exxonmobil.com/Corporate/Files/news_release_supp4q09.pdf
Fifth Third at the Morgan Stanley U.S. Financials 2010 Conference
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MzY2OTk4fENoaWxkSUQ9MzYyMTg2fFR5cGU9MQ==&t=1
HP 2009 Annual Report
http://media.corporate-ir.net/media_files/irol/71/71087/AR2009/HTML2/default.htm
Roche
http://www.roche.com/media/media_releases/med-cor-2010-02-03.htm
Royal Dutch Shell 4Q and full year 2009
Spectra Energy 4Q and full year
http://www.spectraenergy.com/news/releases/2010/feb/20100204_01.pdf
The Air Force has awarded IBM a contract to design and demonstrate a secure cloud computing infrastructure capable of supporting defense and intelligence networks. The ten-month project will introduce advanced cyber security and analytics technologies developed by IBM Research into the cloud architecture.
http://www-03.ibm.com/press/us/en/pressrelease/29326.wss
Sources: IBM, Spectra Energy, Royal Dutch Shell, Roche, HP, Fifth Third, Exxon Mobil, Exelon, ConocoPhillips, BP, Cisco, Monster, ADP, DOL websites.
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